Bonds readying to advance?

all week right?

surprised there wasn't more of a reaction to the employment figures this morning.

 

yup, I thought it would definitely shake things up...

 

ZN, ZB want to go up, the spike today is proof. it's just that big players are afraid to go long and go against the FED wishes

notes go to 111/112 and the FED is against the wall, it has no policy tools left to fight inflation

 

good point!

 

Looks like the Bonds will resume their rally shortly. Not sure they will get very far before the end of the month though.

tony

 

Wave 4 needs a little more drawdown no?

 

Probably a retest of 113.75, but not much lower if it's going to stay positive.

 

Looks to me we put in a good wave 4 double flat @ 113.31

 

Data Flash! 5-Year Note ... Light Demand


Stone & McCarthy (Princeton) -- The 5-year note auction stopped right at the 100pm bid side, but saw light demand. The indirect bid was also quite low, coming in at the lightest since August of last year.
The auction stopped at 3.370%. The WI was bid at 4.370% as of the 1:00pm bidding deadline. 26.13% of bids at the high yield were accepted. The issue will have a 4 1/4% coupon.

The bid cover was low at 2.10, relative to an average of 2.50 over the prior twelve 5-year note auctions. At 2.10, the bid/cover is the lowest since April of last year. Non-comps were low at $90 mln, relative to an average of $104 mln.

 

Pretty steep decline here!
Thought it would hold at 113.75.
Bonds appear to be breaking down as I write!