Intraday Market Thoughts
Archived IMT (2009.07.29)
by
Jul 29, 2009 18:12
Another poorly subscribed US Treasury auction as the 5yr auction (CORRCT not 2 year) receives poor 36% participation from indirect bids and low 1.92 bid/cover ratio. The news are adding to stocks losses, thereby helping USD stabilize after brief pullback. JPY weakness, however, broadening, as USDJPY tests 95.35 resistance. Dow eyes testing of 9,000 level and S&P500 eyes 965.
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