10y TNote through a busy Tuesday with no major changes

Futures contract for 10-year T-Note today strengthened by 0.1% d / d to 132.8 to 132.6 borderland important resistance. The market may unexpectedly survived Hot American morning: unexpectedly robust reports the February consumer sentiment index, Conference Board or the January new home sales were offset by performance Fed chief Bernanke's semi-annual report on monetary policy to the Senate Banking Committee. Bernanke tried to mitigate the expected reduction options ultraexpanzivní monetary policy.

Market in recent weeks has created a new minimum 3/4letní 130.7, which is part of the main support instantaneous bandwidth 130.5 130.7. This confirms six-month downward trend targeting a minimum of 127.7 in March. Supporter vanguard consists of 131.1. Important resistance is possibly the band 132.6 133.1 134.3.

Market in recent weeks suffered several serious Direkt. After New Year's fiscal agreement temporaries U.S. market severely hit record of the Fed meeting on interest rates, 11 and 12 December indicating significant weakening support ultraexpanzivní monetary policy among the members of the body výkoného central bank and thus the serious flaws belief that cheap money policy will continue in the coming years. The last straw yet bitter liquor for the market over the last expectation of better economic news.

The market will now wait for the next, the second part shows Fed Chairman Bernanke's semi-annual report on monetary policy to Congress, this time in the Financial Services Committee of the House of Representatives.

Josef Kvarda
Analyst
HighSky Brokers