EU CREDIT UPDATE: New Issue Performance

Feb-27 11:37

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Historical bullets

LOOK AHEAD: Wednesday Data Calendar: FOMC Policy Annc, 2Y FRN Sale

Jan-28 11:33
  • US Data/Speaker Calendar (prior, estimate). All times ET
  • 01/28 0700 MBA Mortgage Applications
  • 01/28 1130 US Tsy $30B 2Y FRN (91282CPX3) & $69B 17W bill auctions
  • 01/28 1400 FOMC Rate Decision
  • Source: Bloomberg Finance L.P. / MNI

US 10YR FUTURE TECHS: (H6) Bear Threat Remains Present

Jan-28 11:32
  • RES 4: 112-31   High Dec 18 and key short-term resistance
  • RES 3: 112-22   High Jan 7 
  • RES 2: 112-10+ 50-day EMA 
  • RES 1: 112-01+ 20-day EMA
  • PRICE:‌‌ 111-21+  @ 11:21 GMT Jan 28
  • SUP 1: 111-09   Low Jan 10 and the bear trigger
  • SUP 2: 111-00   Round number support
  • SUP 3: 110-30+ 1.618 proj of the Oct 17 - Nov 5 - 25 price swing  
  • SUP 4: 110-22+ 1.764 proj of the Oct 17 - Nov 5 - 25 price swing

Treasuries continue to trade above their recent lows. A bear theme is intact and short-term gains are considered corrective. Initial firm resistance is at the 20-day EMA, currently at 112-01+. The 50-day EMA is at 112-10+. The area between the 20- and 50-day averages represents a key resistance zone. For bears, a resumption of weakness would refocus attention on the bear trigger at 111-09, the Jan 10 low.

OPTIONS: Larger FX Option Pipeline

Jan-28 11:31
  • EUR/USD: Jan29 $1.1930(E1.0bln); Jan30 $1.1800(E1.7bln), $1.1850(E2.0bln), $1.1900(E4.2bln), $1.1925(E1.1bln); Feb01 $1.2000(E2.1bln)
  • USD/JPY: Jan30 Y156.00($1.3bln); Feb02 Y150.95-00($1.3bln)
  • AUD/USD: Jan29 $0.6825-40(A$1.2bln)
  • USD/CNY: Feb02 Cny6.8700($1.8bln), Cny6.9700($1.1bln)