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Trading news
24 Apr 2015
Treasuries weaker, US 10-yr yields mildly bearish – RBS
FXStreet (Barcelona) - William O'Donnell, Head of US Treasury Strategy at RBS, comments on the US treasury market and further gives the key technical levels for 2s, 5s, 10s and 30s treasuries.
Key Quotes
“Treasuries are modestly weaker though outperforming Bunds by 2bp on a morning with light news flow away from saber-rattling from both sides in the Greek talks.”
“Our overnight US rates flows saw central bank buying in 5's and Asian receiving in 4yr rate. Overall flows were notably subdued compared to earlier this week. Overnight inter-dealer Treasury volume was 101% of the 10-day average.”
“2s (0.532%)- Next major support doesn't emerge until ~0.80% where we found buyers back in the spring of 2011. Resistance seen at 0.40% where we'd close a gap left behind in late October. Daily momentum still aims bearishly.”
“5s (1.36%)- Minor support emerges at 1.40% and stronger support is behind that at 1.46%. Next resistance begins at ~1.30% and extends down to major resistance at 1.15%. Daily momentum is mildly bearish.”
“10s (1.95%)-Next resistance comes in some congestion in and around 1.80% then the low yields of 1.64%. Next support comes in ~2.00% with stronger support at ~2.24% after that. Daily momentum is mildly bearish.”
“30s (2.65%)- Bonds have nearby support ~2.85% and then better support up near 3.10%. Next resistance around 2.40%. Daily momentum is still leaning bearishly.”
Key Quotes
“Treasuries are modestly weaker though outperforming Bunds by 2bp on a morning with light news flow away from saber-rattling from both sides in the Greek talks.”
“Our overnight US rates flows saw central bank buying in 5's and Asian receiving in 4yr rate. Overall flows were notably subdued compared to earlier this week. Overnight inter-dealer Treasury volume was 101% of the 10-day average.”
“2s (0.532%)- Next major support doesn't emerge until ~0.80% where we found buyers back in the spring of 2011. Resistance seen at 0.40% where we'd close a gap left behind in late October. Daily momentum still aims bearishly.”
“5s (1.36%)- Minor support emerges at 1.40% and stronger support is behind that at 1.46%. Next resistance begins at ~1.30% and extends down to major resistance at 1.15%. Daily momentum is mildly bearish.”
“10s (1.95%)-Next resistance comes in some congestion in and around 1.80% then the low yields of 1.64%. Next support comes in ~2.00% with stronger support at ~2.24% after that. Daily momentum is mildly bearish.”
“30s (2.65%)- Bonds have nearby support ~2.85% and then better support up near 3.10%. Next resistance around 2.40%. Daily momentum is still leaning bearishly.”