BofA Merrill Lynch notes in a report on Wednesday: We remain bearish US Treasuries and short TYM5. Turning to 5yr yields, we look for a near term base from 1.572%/1.561% (6wk trendline resistance and the 21d), from which…
BofA Merrill Lynch notes in a report on Wednesday:
We remain bearish US Treasuries and short TYM5. Turning to 5yr yields, we look for a near term base from 1.572%/1.561% (6wk trendline resistance and the 21d), from which the larger bear trend resumes.
Odds favor a test and break of 1.722% (6m trendline support) through which exposes the confluence of long term support between 1.791%/1.879%. This could be the catalyst for 5s30s to resume its larger flattening t rend.
Today's break below 9wk Triangle/ contracting range support at 110.8bps says this long term flattening trend is resuming. Below the 106.6 (wave "d" and Feb-26 low) confirms a return to trend for a test and break of 100 and then 888bps. Above 119.4bps points to a larger range trade than anticipated.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
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