(U9) Dire NFP Gives Bonds......>

US 10YR FUTURE TECHS: (U9) Dire NFP Gives Bonds Shot in the Arm

*RES 3: 127-28+ Sep 8 2017 high

*RES 2: 127-26+ 61.8% 134-07+-117-13+

*RES 1: 127-19+ Jun 7 high

*PRICE: 127-15 @ 15:50 BST, Jun 7

*SUP 1: 125-06+ May 30 low

*SUP 2: 124-08+/01 50-dma/May 21 low

*SUP 3: 123-20 38.2% 117-13+-127-15

10-Yr US futures now look increasingly comfortable north of 127-00 as the

poorer-than-expected nonfarm payrolls release gave global bonds (and equities) a

shot in the arm. This shifts near-term targets higher to 127-26+ and levels not

seen since 2017 at 127-28+. Momentum indicators have extended into overbought

territory with immediate downside focus on the May 30 low. A break here could

extend the short-term reversal to the 50-dma & May 21 low at 124-08/01. On the

topside, bulls need to recover recent cycle highs at 127-15 to reignite upside

momentum.