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18 Mar 2013
Forex Flash: 10-year US treasury volumes surge – RBS
FXstreet.com (Barcelona) - The market continues to see a 1.70% to 2.13% range in 10-year US Treasuries. According to the RBS Research Team, “Key resistance remains at 2.13% in 10-years, while near term support is at 1.80% - a break through here should see extension to 1.70%. Momentum measures are mixed—suggesting that the range trade will continue.”
Treasuries were higher today after and new deposit tax (6.75% on deposits up to €100k and 9.9% on deposits above €100k) on Cyprus bank accounts has sparked fears of bank runs in So. European countries. The Euro is weaker, the Dollar higher and German 2-year yields are back below 0.00% as risk-on fever suddenly takes a back seat. We also saw leveraged flatteners put on in 5-years-30-years. Total Treasury inter-dealer broker volume was a whopping 233% of the 10-day average.
Treasuries were higher today after and new deposit tax (6.75% on deposits up to €100k and 9.9% on deposits above €100k) on Cyprus bank accounts has sparked fears of bank runs in So. European countries. The Euro is weaker, the Dollar higher and German 2-year yields are back below 0.00% as risk-on fever suddenly takes a back seat. We also saw leveraged flatteners put on in 5-years-30-years. Total Treasury inter-dealer broker volume was a whopping 233% of the 10-day average.