Bonds: 10Y bond is weak unable to come off from the high of 8.30%. This shifts the focus into the set short term range of 8.10-8.35%; weakness if any from now on will be limited to 8.35% for sharp reversal into 8.20-8.10%. It is time for strategic investors to stay long for sharp rally on shift into FY13.
OIS: 1Y rate is steady below 8.10% within the 8.0-8.15% range but 5Y OIS is under pressure at 7.47-7.50%. This shifts the focus into the set short term range of 7.25-7.55%; any upward momentum should fail below 7.55% for reversal into 7.35-7.25%.
Good luck..............Moses Harding
OIS: 1Y rate is steady below 8.10% within the 8.0-8.15% range but 5Y OIS is under pressure at 7.47-7.50%. This shifts the focus into the set short term range of 7.25-7.55%; any upward momentum should fail below 7.55% for reversal into 7.35-7.25%.
Good luck..............Moses Harding
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