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Technical analysis: Euribor Futures
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Euribor – December 2009
Thu, Oct 8 2009, 08:59 GMT
by Nicole Elliott
Comment: The German Treasury yield curve has flattened (30/2 year by a not inconsiderable 50 basis points) as yields at the long end drop; this has come as a surprise to many and is making equity bulls nervous. Three-month Libor at 70 basis points today and becoming more costly to produce through the forwards, while futures contracts look top-heavy, stalling at the top of ‘wedges’ at record highs. Good volume on yesterday’s slip suggests we are due another of our periodical clear-outs. Allow for drops between 7 and 25 basis points depending on the contract month. These are seen as medium term buying opportunities for another painful crawl higher later this year.
Strategy: Possibly attempt tiny shorts at 99.200; stop above 99.275. Cover ahead of 99.045/99.000 and look for signs of a ‘spike low’ to go long.
Published on Thu, Oct 8 2009, 09:01 GMT
Archive
- Euribor – March 2010
Published On Thu, Nov 19 2009, 09:32 GMT - Euribor – March 2010
Published On Thu, Nov 12 2009, 08:27 GMT - Euribor – March 2010
Published On Thu, Nov 5 2009, 08:25 GMT - Euribor – March 2010
Published On Thu, Oct 29 2009, 08:48 GMT - Euribor – March 2010
Published On Thu, Oct 22 2009, 08:24 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Related reports
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