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The Monthly Banker: 25 June 2015
Austrian 10yr Bond Yield set to resume up
    

Austrian 10yr Bond Yield set to resume up

 

The Austrian Government 10-year Bond Yield has spent several week's consolidating the early-June surge.  Note the RSI had become overbought again.  On Wednesday, a gap occurred, as the yield jumped up to challenge the month's earlier high near 1.2%.  It could augur a renewal of the uptrend before long.  A sustained fall beneath initial support around 1% would be required to delay this potential. 

Weekly Comment:

 


Government Bond Futures 


 

 

US - The US 2-year Treasury Note future recently rallied strongly to short-term range resistance at 109.469.  Support at the pattern lows, near 109.10, had been successfully challenged.  Some hesitation is evident over the last few sessions.  In the event of a breakout, the next chart target is the January ceiling at 109.555.

 

UK - The Long Giltinstrument has retraced the bounce from the early-June low at 114.27.  A clearance of resistance at the 50-day Moving Average, around 116.50, would be needed to remove pressure from that floor.

 

Europe - Last week, theEuribor contract was probing support at the January/February floor; near the 200-day MA.  The rebound from that region, around 99.95, has removed pressure from that platform.  The chart shows some hesitation near the upper boundary of the year's range.  However, a more forceful down move would be needed to reinforce the top building theory.

 

Asia - The failed break under the May low led to a 'bear trap' recovery by the 10-year JGB future.  That counter move is now struggling, with resistance developing near the long and short-term MAs; just under the early-June high at 147.42.  A push past that barrier is required to remove the danger of a further retracement back towards the floor at 145.72.

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