Morning Interest Rate and Treasuries Report

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August 14th, 2012

US Treasuries have started out on a weaker footing this morning, which some traders feel is largely a result of the ongoing strength of US equities as the September S&P early today reached the highest price level since April 2nd. There are other traders who feel that distinctly favorable US equity market action can have the impact of making the macro economic condition feel better than it is in reality. It is also possible that the market’s anticipation of a minor rise in US Retail Sales later this morning may be responsible for the modest weakness in Treasuries at the start of this morning’s trading. While many traders are expecting a 0.2% to 0.3% gain in Retail Sales, a negative reading could be a supportive development for Treasuries. Stronger equities, a stronger Euro and weaker Yen action may reflect an initial “risk-on” vibe in global markets, and some traders feel that a positive reception to the US Retail Sales report may help to insure that a generally positive macro economic psychology remains in place during today’s session.
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