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JGBS AUCTION

Japanese MOF sells Y2.8674tn 1-Year Bills:

EQUITIES

Markets Lower

OIL

Crude Futures Extend Losses

JGBS AUCTION

PREVIEW: 5-Year Supply Due

CHINA RATES

Futures Hit Contract High

(H1)‌‌ Holding Onto Recent Gains

US 10YR FUTURE TECHS
  • RES 4: 137-09 50-day EMA
  • RES 3: 137-07+ Low Dec 4
  • RES 2: 137-00 Round number resistance
  • RES 1: 136-29+ High Jan 8
  • PRICE: 136-26 @ 15:41 GMT Jan 15
  • SUP 1: 136-12 Low Jan 13
  • SUP 2: 136-01 Low Jan 12
  • SUP 3: 135-25+ 76.4% of the Mar - Aug rally
  • SUP 4: 135-08 23.6% 2018-2020 Rally

Treasuries are holding onto the bulk of the gains seen since Tuesday's low. The recent climb is considered a correction although it is possible that S/T strength may continue to dominate and allow a recent oversold condition to unwind further. Resistance levels to watch are: 136-29+, Jan 1 high and 137-07+, Dec 4 low. A break above the latter level would potentially allow for a stronger recovery. On the downside, the bear trigger lies at 136-01.