Recall monthly double bottom at -67, NL +11, objective +89- High hopes for this trade crushed (long at +13, out at +31)
- Spread did widen to +40 max early Aug09 after NFP (less weak than expected = temporary pricing of rate hikes, subsequently completely reversed)
- Now back to +12
- Weekly now broken uptrend line, as per US10YY
- Monthly close back <+11 = move back towards negative spread
- So, instead - now Buy UST, sell Bunds?
- The best trades sometimes are failed technical breakouts because likely that many are wrong-footed and just stop losses alone could push the initial trade into deep profitability very quickly.
02 September 2009
10 year Bunds/UST Spread : Huge Disappointment
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