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Academy Secs' Jon Cardilli points cash...>

US TSYS/5Y
US TSYS/5Y: Academy Secs' Jon Cardilli points cash US Tsy 5/30-yr curve (now
+89.7) will keep "steepening tilt" amid tech as 1) US "stocks remain firm" plus,
- 2) There's been a "clean breakout in WTI/Brent" oil prices;  
- 3) TIPS "breakevens across the curve moving wider (even on today's rally) 
- 4) "Potential" US$ "weakness ahead" cld "help commodities stay bid;" 
- 5) And US has had the "best back to back GDP in 3 yrs, and first back-to-back
qtrs of 3% growth before revisions (GDP is revised 3 times) since Pres. Bush" Jr
- He added "let's lean" on technicals: 
- 1)5/30Y curve action "is attempting to break out of the 1.5-mo trend channel"
and  
- 2) RSI Oct. 17 "failed to confirm a new low toward flattening," had "bullish
divergence" 
- 3) MACD has "bullish cross-over on Oct. 24" 
- 4) "Use 91.5 as a soft pivot to gauge price action"; close "above" cd "open
the door to 5/30Y" at 100bp 

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