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Have yields found a base

BONDS
  • Plenty of conversation among investors, Real Money, Leverage Money, Fast Money, Asset Liability Managing desks, as to whether core yields have found a base.
  • The picture could become clearer going forward post US ISM and NFP next week, with all eyes on the September Central Banks meeting
  • ECB is on the 9th, Fed on the 22nd and BoE the 23rd.
  • Technically, further corrective pullback could be on the card.
  • Support in Bund is seen at 175.62 Low Jul 26
  • In yield term, resistance is seen further out to -0.379%, which reference 176.00 would equate to 175.35.
  • Support in TYU1 is at the August low 133.09+
  • For December (TYZ1), immediate support is at 132.28+, and the August low is at 132.21+.
  • In yield, US 10yr resistance comes at 1.4348%


chart source: Bloomberg

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