EM LATAM CREDIT: Argentina March Leading Indicator
"Argentina March Leading Indicator Falls 2.10% M/m, +2.31% in February " - BBG...
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FED: US TSY 19Y-11M BOND AUCTION: HIGH YLD 4.632%; ALLOT 97.34%
- US TSY 19Y-11M BOND AUCTION: HIGH YLD 4.632%; ALLOT 97.34%
- US TSY 19Y-11M BOND AUCTION: DEALERS TAKE 8.81% OF COMPETITIVES
- US TSY 19Y-11M BOND AUCTION: DIRECTS TAKE 22.35% OF COMPETITIVES
- US TSY 19Y-11M BOND AUCTION: INDIRECTS TAKE 68.84% OF COMPETITIVES
- US TSY 19Y-11M BOND AUCTION: BID/COV 2.78
US 10YR FUTURE TECHS: (M5) Bounces Off Support
- RES 4: 113-02 2.0% 10-dma envelope
- RES 3: 112-13 1.500 proj of the Jan 13 - Feb 7 - Feb 12 price swing
- RES 2: 112-01/02 High Mar 4 / 1.382 proj of Jan 13-Feb 7-12 swing
- RES 1: 111-25 High Mar 11
- PRICE: 110-23 @ 16:56 GMT Mar 18
- SUP 1: 110-14+/14 20-day EMA / Low Mar 18
- SUP 2: 110-12+/00 Low Mar 6 & 13 / High Feb 7 and 50-day EMA
- SUP 3: 109-13+ Low Feb 24
- SUP 4: 108-21 Low Feb 19
The trend condition in Treasury futures is unchanged, a bull cycle remains in play and the current consolidation marks a pause in the uptrend. A bull theme is reinforced by MA studies that are in a bull-mode condition, highlighting a dominant uptrend. Recent gains have resulted in a print above 111-22+, the Dec 3 ‘24 high. A clear breach of this level would open 112-02 and 112-13, Fibonacci projections. Firm support is 110-00, the Feb 7 high. The 20-day EMA was tested Tuesday, but prices firmly bounced off support.
US TSYS/SUPPLY: WI 20Y Bond Re-Open Auction
WI holding steady at 4.646% ahead of the $13B 20Y bond auction reopen (912810UJ5) cut-off at 1300ET, compares to last month's tail: 4.830% high yield vs. 4.820% WI.
