Intraday Market Thoughts

Archived IMT (2009.04.29)

by Ashraf Laidi
Apr 29, 2009 19:21

Fed does not increase purchase of LT treasuries or agency debt, driving the 10 yr yield to 3.16% (highest since Nov 26). Dollar bounces off its lows against most currencies with exception of the JPY, which is the biggest loser as stocks retain their gains at session highs. Soaring bond yields and rallying equities is a rare combination. More declines in GBPUSD seen ahead, with 1$.4680 target, followed by $1.46. $1.4830 still holds for the day.


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