The Nemenoff Report Bonds higher, S&P's higher, Silver Lower

By International Business Times,  August 06, 2012, 10:29:50 AM EDT

Financials:  Sept. Bonds are curently 16 higher at 150'01 and the 10 Yr. Note 7.5 higher at 134'04.5. Friday's Unemployment Report showed an increase in non-farm payrolls of 163,000 vs. expectations of an increase of 95,000. This in addition to renewed possibilities of Quantitative Easing in Europe helped the Bonds break more than 2'00 removing some of the "flight to quality" premium built into this market. As mentioned over the last few weeks I consider a close below the 150'00 level a sell signal. That being said, I caution against selling into this market on breaks and recommend waiting for rallies to initiate short positions. For the near term support is the 149'08 area and resisitance the 151'00 level. If the Bonds are too volatile for you, consider going short either the 10 year or 5 year notes on rallies.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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