HighSky (HighSky)
Currencies  |  April 03, 2013 11:20:00

Overnight stationary

Futures contract for 10-year T-Note and overnight stays at the value 132.0. The market continues downward trend 3/4letním 127.7 and objectives with the way the past few weeks has created a new 11-month minimum 130.0. Important aids are 129.9, 131.1 and 131.8. Resistance band are 132.3 and 133.0 with possible further milestone resistance 134.3.

10ytnote, daily comment

The market today will be very interested in the March ISM services index (16.00 CET). Activity sector in recent months, grew at the strongest pace in February last year. Last ek leading indicators. activities in the last month in the U.S., however, indicated a weakening growth ek. activity. Also, in the case of this index are waiting mom decrease, albeit small as a reflection of a small reduction in growth activity sectors.It would be but still solid.

Bond and commodity markets, especially the gold market long benefited from a lot of commitment and consistency assertions long ultraexpanzivní Fed monetary policy and expectations are very favorable financial conditions. These beliefs and expectations, due to uncertainties in the global economy, however, can still fulfill the market's confidence at the beginning of the publication of the minutes of the Fed's key interest rate 11 to Dec. 12 as a bolt from heaven serious flaws. For markets to shock major cognition shift, that the Fed among some members of the body výkoného significantly strengthen the view reduction of monetary expansion as early as this year! Certainly not this year at least noting trading on financial markets even if the Fed tried in the weeks to assure a preference for the current course of monetary policy and the current durationvery favorable monetary conditions in the following years (statement and write the January decision on key interest rate or the performance and presentation of monthly reports monetary policy Fed chief Bernanke to Congress in February) and reasonably calm turbulent market expectations with an effort to dampen their adaptation. Continuing soothing doctrine also recorded a further escalation of the tension of the situation in Europe, which takes into account the Fed significantly in their views. Markets, however, feel that the change of the course of monetary policy may come much sooner than it seemed a few weeks ago. The last straw yet bitter liquor for the bond market over the last expectation of better economic news and the labor market.

Josef Kvarda
HighSky Brokers

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