Euro−Bund future –Sep 2010
International Trading
THE TECHNIQUE OF GIVING A GOOD MASSAGE
14 years ago
Monday, August 23, 2010
, Posted by Usman Ali Minhas at 3:16 AM
Comment: With Swiss ten-year Conf at 1.140%, snapping on the heels of JGB’s 0.905%, Bunds are trying to keep up by setting a new benchmark low yield at 2.260%. Greek ten-year paper at 860 over these is trading at its highest ever spread in a non-crisis scenario and Technically looks set to go an awful lot wider still; Ireland looking similar. We maintain our long held view that futures prices will rally to 134.00, noting that a ten basis point move is currently worth one big figure on this contract, but warn that the closer we get to this level the more cautious our outlook. Still more yield curve flattening to come as German 30-year sets a new record low yield at 2.891%.
Strategy: Attempt longs at 132.65 but only if prepared to add to 131.00; stop below 129.40. Add to longs on a daily close above 133.00 for 133.75/134.35, possibly 135.45.
Visiter
Web stat
