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BONDS

Core Fixed Income Meandering On Thursday

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Yuan Shuts Its Eyes To PBOC Fix

US TSY FUTURES

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  • RES 4: 135.870 High Sep 3
  • RES 4: 135.660 High Sep 7 / 9
  • RES 3: 135.540 High Sep 21 and key near-term resistance
  • RES 2: 135.200 Low Sep 17 and recent breakout level
  • PRICE: 135.030 @ 05:32 BST Sep 24
  • SUP 1: 135.000 Round number support
  • SUP 2: 134.983 2.618 proj of the Aug 20 - 27 - 31 price swing
  • SUP 3: 134.924 2.764 proj of the Aug 20 - 27 - 31 price swing
  • SUP 4: 134.830 3.00 proj of the Aug 20 - 27 - 31 price swing

Bobl futures resumed bearish activity yesterday as a sharp sell-off saw price trade through former support at 135.200, Sep 17 low. This maintains the current bearish price sequence of lower lows and lower highs that defines a downtrend and signals scope for an extension lower. The focus is on 134.983 next, a Fibonacci projection. On the upside, key short-term resistance has been defined at 135.540, Sep 21 high.