Morning Interest Rate and Treasuries Report

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August  20th, 2012

Treasury prices have fallen back to last week’s lows during the early portion of Monday’s trading action, which many traders feel is the result of generally upbeat macro economic information from the US last week, relative calm towards the Euro zone overnight and ideas that the Chinese might be poised to offer up some fresh stimulus later this week. Treasuries may be feeling some additional pressure from weekend news reports of fresh movement from the European Central Bank, as that storyline has helped to reduce flight to quality support even further.

While the Chicago Fed National Activity Index will be released this morning and is expected by many in the market to follow the recent pattern of slightly improved US economic data, today’s report might not offer as much of a sustained market reaction as upcoming US economic data are likely to see later on this week. On the other hand, seeing September bonds fall below last Friday’s low of 145-04 would put bond prices down to their lowest levels since May 15th.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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