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O'Hare: Why I'm buying Euro bund
Treasuries have seen a move higher over the last few sessions, following last week's "poor" non farms, according to Steve O'Hare. That's one of the reasons he's looking to buy fixed income, in particular the euro bund March contract.
He says prices have broken the horizontal
resistance, and as a result the downward trend is the likely target at 141.30. He adds that his bias is
bullish but he prefers to set longs at better risk/reward levels.
Steve plans to buy a dip at 140.60, to place a stop at 140.35 and his targets are 141 and as mentioned above, 141.30.
Meanwhile, Germany's 10-year government bonds rose for a third day before a report that economists
said will show industrial production in the euro area
climbed the most in two and a half years in November.
The benchmark 10-year yield dropped to the lowest level in five weeks.
01:11 minutes
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