Back
7 Mar 2013
Forex Flash: 10-year US Treasuries point to consolidation – RBS
Investors continue to see a 1.70% to 2.13% range in 10-year US Treasuries. Key resistance remains 2.13% for 10-years, with first support at 1.94%. According to the RBS Research Team, “Near term support is 1.80%; a break through here should see extension towards 1.70%, though the daily charts continue to point to consolidation.”
Treasuries have staged a modest rebound as Bunds have ticked higher after Berlusconi of Italy was sentenced to a 1-year jail term and German factory orders disappointed. Asian stock markets were mixed but the Nikkei traded above 12,000 for the first time since Sept. 2008.
Our overnight Treasury flows saw light and sporadic buying and 10-years traded in just a 1+ tick range for most of the day, while in European hours we saw buying in T-Bills and some selling in MBS out of Asia and little else. Total Treasury inter-dealer broker volume was just 56%.
Treasuries have staged a modest rebound as Bunds have ticked higher after Berlusconi of Italy was sentenced to a 1-year jail term and German factory orders disappointed. Asian stock markets were mixed but the Nikkei traded above 12,000 for the first time since Sept. 2008.
Our overnight Treasury flows saw light and sporadic buying and 10-years traded in just a 1+ tick range for most of the day, while in European hours we saw buying in T-Bills and some selling in MBS out of Asia and little else. Total Treasury inter-dealer broker volume was just 56%.