Tuesday, January 10, 2006

Bonds and Notes

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

I think both markets have one more leg up in the bear market rally that started from the November 4 low. The bonds have broken support by just a little but the notes are holding their level at 109-04. I expect both markets to rally from here. The bonds should reach 115-28 and the notes 110-24.

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