Overnight:
The Yen is falling apart. USD/JPY is at 122.24, quite a spike. I would let the dust settle and then pick up some JPY Septembers. BOJ will eventually raise rates.
For now, this is lending some support to equity futures. NQ resistance is 1921.25. But ZN is still below 104, which might not to be enough of a yield drop for any rally to last. I think the bond sell-off has gone way too far, so be ready to switch gears when it reverses.
The Yen is falling apart. USD/JPY is at 122.24, quite a spike. I would let the dust settle and then pick up some JPY Septembers. BOJ will eventually raise rates.
For now, this is lending some support to equity futures. NQ resistance is 1921.25. But ZN is still below 104, which might not to be enough of a yield drop for any rally to last. I think the bond sell-off has gone way too far, so be ready to switch gears when it reverses.
This entry was posted
on Wednesday, June 13, 2007 at 6/13/2007 12:57:00 AM.
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