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

Financials: June Bonds are currently 10 higher at 141'08 and the 10 Yr. Note 5.5 higher at 131'21.0. Since my last letter on March 7th, we have seen a Monthly Employment Report which showed an increase in non-farm payrolls of 236.00 vs. expectations of 170-180,000 which has since seen the Bonds drop from the March 7th level of 142'15 to the March 8th low of 140'14. On last Thursday we took profits ahead of the Employment Report on long 10 Yr. Note/short Bond and long 5 Yr. Note/short 10 Yr. Note spreads. I now recommend taking profits on any long put option and/or long put spreads. I am now willing to look at the Bonds as a trading affair between the 140'20 and 142'26 levels. My bias has changed from negative to neutral.

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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 Nasdaq, Inc.


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

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