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Technical analysis: US Ten Year Note Future
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US TNote Future – Sep 2009
Tue, Jun 9 2009, 07:54 GMT
by Nicole Elliott
Comment: Having lost the ability to set interest rates for the corporate and interbank markets, as well as long-dated Treasuries, the Fed now appears to have let short-dated TNotes slip from its grasp. The yield on these, having been trapped like a fish on a hook around 0.95% all year, burst to 1.45% in just two days. This has helped the US yield curve flatten suddenly, and the spread over Bunds increase; both these tendencies should continue at a smart pace this month so that US paper yields about 50 basis points over Germany. Futures prices are still very oversold and while we are concerned as to the long term prospects for the US dollar, a risk-free yield of almost 4.00% must be very tempting for some investors.
Strategy: Attempt small longs at 113.16; stop below 112.20. Add to longs on a daily close above 115.04 and again on a sustained break above 117.08 for 119.00 short term.
Published on Tue, Jun 9 2009, 07:56 GMT
Archive
- US TNote Future – Dec 2009
Published On Tue, Nov 3 2009, 08:56 GMT - US TNote Future – Dec 2009
Published On Tue, Oct 27 2009, 09:39 GMT - US TNote Future – Dec 2009
Published On Tue, Oct 20 2009, 08:26 GMT - US TNote Future – Dec 2009
Published On Tue, Oct 13 2009, 07:45 GMT - US TNote Future – Dec 2009
Published On Tue, Oct 6 2009, 08:25 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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