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12 Mar 2013
Forex Flash: 10-year US treasuries trading near resistance – RBS
We continue to see a 1.70% to 2.13% range in 10-year Treasuries. According to the RBS Research Team, “The key support remains 2.13% in 10-year treasuries while near term resistance is 1.80%; a break through here should see extension to 1.70%. Moreover, momentum measures are mixed – suggesting that the range trade will continue.”
Treasuries have staged a modest rebound as European markets fully recover (and then some) the post-payrolls losses. European spreads are largely unchanged but a Dutch sale of 3's went well as did auctions in peripheral Bill markets.
Asian stock markets were lower, European exchanges are mixed and S&P futures are showing -2.1pts here at 7am. Better buying out of Asia this morning but overall overnight flows were deemed light again. Asia bought 10yrs, there was central bank buying in 3yrs once again and seeing extensions from the front end out to 5yrs. Overall, the total Treasury inter-dealer broker volume was 83% of the 10-day average.
Treasuries have staged a modest rebound as European markets fully recover (and then some) the post-payrolls losses. European spreads are largely unchanged but a Dutch sale of 3's went well as did auctions in peripheral Bill markets.
Asian stock markets were lower, European exchanges are mixed and S&P futures are showing -2.1pts here at 7am. Better buying out of Asia this morning but overall overnight flows were deemed light again. Asia bought 10yrs, there was central bank buying in 3yrs once again and seeing extensions from the front end out to 5yrs. Overall, the total Treasury inter-dealer broker volume was 83% of the 10-day average.