Today’s sample of Futures Analysis from FuturesHound.com
December Treasury Bonds and Notes were able to post higher closes after robust demand at today’s treasury auction helped drive down yields. This is a sign that investors are looking for safety.
Equity futures had a choppy, volatile day. The NASDAQ was hit hard after Chinese internet stock Baidu fell sharply. The spilled over to the S&P and Dow, but it was the unexpected drop in consumer confidence that did the most damage. The announcement of a stock buyback from IBM helped stabilize the market late in the day. The short-term picture indicates more downside pressure is likely.
The U.S. Dollar finished mixed. The Dollar lost ground to the December British Pound, December Japanese Yen and December Canadian Dollar. Falling demand for higher risky assets helped put pressure on the December Euro.
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Robust Demand Supports Treasury Markets
Posted - October 28 2009 : 06:19:56
