19 June 2010

Benchmarks : Weekly Update

  • Indecision time. Finely poised to go either way in a few key markets. Await next week's price action to gather more clues about markets' intentions.
  • USDX : Weak price action during the week = very worrying for USD bulls + Risk Off believers.
  • US10YY : Above not supported by Treasuries which were sideways for the week + yield down 2 bp on the week.
  • S&P500 : Strong weekly candle, but occurring within context of UpTL break. Also daily seems to have stalled just below 1120 for a few days already = pause for breath or getting ready for reversal?
  • Gold : The only clear move. Historical high close at 1256. Unequivocally bullish.
  • [Others : FX markets like AUD+CAD supportive of Risk On. Not so for bonds + Copper. We have a fight on here.]
  • WC getting very interesting in terms of unexpected results and scramble to get to last 16. Shiok!

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