T-Bond Traders Guess Right as Fed Hints at More Quantitative Easing
December Treasury Bonds were trading firmer on Tuesday even before the FOMC hinted that the Fed was gearing up for another round of quantitative easing.
Early in the trading session T-Bonds pierced a downtrending Gann angle at 131’27, indicating a sign of strength and the potential for a retracement back to 132’12 to 133’04.
Stock Traders Put European Debt Issues Back on Forefront
Japanese Yen Traders Don’t Seem to Know if Risk is on or Risk is Off
The USD JPY traded sharply higher Friday morning, but the strong gains faded after a report showed the U.S. Services Sector slowed during August. The rise in demand for stocks appeared to be reviving the carry trade earlier in the session. This is a situation where investors borrow the lower yielding Yen then sell it to invest in higher yielding assets.
This may be a key turnover day for all markets. Specifically, the EURO, DOW, and CRUDE are now registering "NO CONFIDENCE" on the previous DOWNTREND signal and really only has to hold in this range to turn the signals. Price to look out for on the EURO is 1.2745 and the DOW is 10149.71.
Traders Seek Direction from Bernanke, GDP on Friday
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Traders Hope Bernanke Sheds More Light on Fed’s Next Move
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