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Schatz yields down over 5bp today

SCHATZ
  • Schatz yields are down almost 6bp on the day at the time of writing, having hit an intraday low of 3.061%, the lowest level since October 10.
  • The move was initially driven by US data (disappointing claims and US core PCE). Futures initially stalled just above 105.037 level (the Fibonacci retracement of the September 1 - 21 downleg) and hit a high of 105.095.
  • Our technical analyst notes that initial resistance is at 105.140 with key resistance is at 105.320, the Oct 10 high which marks a short-term bull trigger.

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