auction

March Treasury Bonds surged to the upside and erased all of Wednesday’s losses following the weak U.S. economic reports. Traders reacted to the possibility of interest rates staying lower for a long-time. Today’s Treasury bond action also went off without a hitch, generating more interest in the long side of the market. The charts indicate the next upside objective is 117’14.

U.S. stock index futures are trading better overnight after the inability to follow-through to the downside following yesterday’s sell-off triggered a short-covering rally. The lack of fresh news regarding debt issues in Dubai and Greece is also encouraging traders to take on more risk.

December Treasury Bonds and Treasury Notes surged in the afternoon following better than expected results from today’s $42 billion 5-Year Treasury Note auction. The decline in U.S. 3rd Quarter GDP provided support earlier in the trading session along with weaker equity prices.

Today’s Treasury auction saw great demand which helped drive up the price of September Treasury Bonds. Investors were encouraged to buy the 3-year Notes at the auction because of the attractive yield and the weakness in the equity markets. Overseas demand was particularly stronger compared to the last three months.

Today’s trading in the Forex markets featured choppy, two-sided trading. Early in the New York session the Dollar strengthened as a pair of bearish U.S. economic reports sent the Dollar higher and the stock market lower. Later in the session, the Treasury announced another $75 billion auction. This news triggered a late session sell-off in the Dollar.

WWA Group, Inc. announced the results of its most recent Dubai auction, which was held between February 21 and 23, 2009. Gross auction sales surpassed $22.5 million, involving the participation of more than 410 registered bidders from 29 countries. More than 1,300 items were sold to 230 successful bidders. The company anticipates holding five more auctions in Dubai this year.

Enable Holdings Inc. (OTCBB: ENAB) is the leader in excess inventory solutions, linking brand-name sellers with customers around the globe. The company today announced that Tom Petters, chairman and CEO of Petters Group Worldwide, and Ted Deikel, veteran investor and former chairman and CEO of Fingerhut Companies, will purchase 1.5 million shares of the company’s common stock.

WWA Group Inc. (WWAG.OB) engages in the trading and auctioning of transportation and industrial equipment worldwide. The company’s primary base of operations is in Dubai, U.A.E. Since 2001, WWA Group has auctioned more than 66,000 pieces of construction equipment to buyers from 67 different countries.