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Type | 3-month bills |
Maturity | Jun 6, 2024 |
Amount | E1.05bln |
Target | E1.1bln |
Previous | E1.057bln |
Avg yield | 3.818% |
Previous | 3.802% |
Bid-to-cover | 2.49x |
Previous | 2.49x |
Previous date | Feb 06, 2024 |
The trend direction in Treasuries is unchanged and remains down, however, the contract is holding on to its recent gains. Attention is on resistance at 111-06, the 50-day EMA, where a clear break is required to signal a possible reversal. This would open 111-11+, 38.2% of the Feb 1 - 23 bear leg. On the downside, the bear trigger has been defined at 109-25+, the Feb 23 low. A break would resume the downtrend and open 109-14+, the Nov 28 low.