Interest Rate and Treasuries Market Recap

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July 6th, 2012

Not surprisingly the Treasury market was higher today and in the process the markets returned to upside breakout points on the charts. In addition to a softer than expected US Non farm payroll result, Treasuries were also lifted by fresh rumors of dissatisfaction within the EU. Clearly the world remains concerned that lingering turmoil in the Euro zone has continued to sit on the back of the world economy and with the US Fed seemingly needing even more evidence of US slowing before acting again, it might be the job of the Treasury market to anticipate extra easing from the Fed with some of the highest price action since the early June highs! While grain prices have recently rekindled some fears of inflation, the price vibe at the end of this week in most commodity markets was more indicative of deflation than inflation.
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