Thursday, December 01, 2005

Bonds and Notes

Here are updated hourly charts showing pit trading in the March T-bond and 10 year note futures.

The support levels I cited yesterday did not hold so I think both markets are headed for the 1/2 point of the current box. I am expecting a low above the November 4 low and then a rally above this week's high which will carry the bonds into the 115-116 range and the notes into the 111-112 range.

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