About Ali Cagdas Tuna

Ali Cagdas Tuna is a futures and options trader based in Turkey, currently employed at Alp Consultancy. He has been trading since 2005 and during that time has had the opportunity to work with multiple CTAs.
April 4th, 2012

‘June T-Bonds (ZBM2) settled at 136*26 down 1*06 ticks.Total estimated volume has been 373.118 higher related with the increasing volatility open interest up 6832 contracts to 574.807 shows new positions taking place in bond market.

FOMC said ‘nothing new’ from their March meeting rate anouncement but markets across the board acted as if something new was going to be relaesed.As a result US Treasuries sold hard following the FOMC minutes.Bonds at some point were down 2*13 ticks from day’s high 138*24.Low of the day printed at 136*16.

 
Economic Events

ADP Employment Change at 07:15 (Exp:205k Prev:216k)

ISM Non-Manufacturing at 09:00 ( Exp:56.7 Pre : 57.3 )

Speakers

FED’s Williams speaks at 10:00

Auctions

Fed’s Outright Treasury Coupon Purchase USD 1.5-2.0bln Feb’36-Feb’42

Fed’s Outright Treasury Coupon Purchase USD 4.25-5.0bln Apr’18-Feb’20
Technically ZBM2 broke triangle on the down side.It’s expected to be a volatile trading in bonds since market will be pricing ‘NO QE’ on the one hand and ‘Protection from equities sell off’ on the other hand.Support levels today 136*14-135*05 resistance levels 137*19-138*05

30 Year Treasury Bond Futures Chart

30 Year Treasury Bond Futures Chart