Sept. Bonds are currently 1'26 lower at 148'01 and the 10
Yr. Note 23 lower at 133'07. Yesterday saq the Bonds rally just
about a full point as a result of the Supreme Court upholding the
Individual Mandate section of the Health Care bill. This was seen
as negative for the economy being an additional tax as
interpreted by the Court. Over night all is forgiven as the E.U.
has pledged to use bailout funds to aid Spanish and Italian banks
et.al., removing some of the flight to safety premium. Near term
support remains at 147'26 and resistance has been lowered once
again to the 149'18 level. Longer term support is the 146'15
area. If the market should break below the 147'00 level my bias
will turn to the long side of the market keeping "operation
twist" in mind.
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International Business Times
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.