Market concerns about Portugal could yet resurface
Mar 23, 2015 19:06 pm UTC| Commentary
A continued economic recovery and the Governments early repayment of IMF loans have allowed Portugal to distance itself further from beleaguered Greece.But with debt still worryingly high and the recovery unlikely to gain...
Trend in Gold has turned higher for 1307/1345 area
Mar 23, 2015 18:56 pm UTC| Commentary
BofA Merrill Lynch notes .... The completed, intra-day impulsive advance from 1143 (Mar-17 low) says the trend has turned bullish. Now, its time to buy a dip. Pullbacks should not exceed the Mar-17 low at 1143. Upide...
Bullish ESM5, but seasonals & the VXV/VIX are a worry
Mar 23, 2015 18:55 pm UTC| Commentary
BofA Merrill Lynch notes .... While we remain bullish ESM5, targeting 2109/2136 resistance, and have no interest in fighting the tape, we are concerned about near term seasonality and the VXV/VIX ratio. However, to be...
5s30s flattening remain on track
Mar 23, 2015 18:50 pm UTC| Commentary
BofA Merrill Lynch notes .... We remain positive on the US 5s30s flattener. Downside targets are seen to 88.8bps, while steepening should not exceed last Wednesdays high of 113.0bps. Below the Feb-09 low at 101.2bps...
Mar 23, 2015 18:39 pm UTC| Commentary
BofA Merrill Lynch notes .... We remain bullish US Treasuries from the 5yr point and out. Looking specifically at 10yr yields, the near complete impulsive decline from the 2.259% high points to further yield weakness in...
AUD & NZD turn medium-term bullish
Mar 23, 2015 18:35 pm UTC| Commentary
BofA Merrill Lynch notes .... We are constructive on the AUD and NZD. Both are pointing to a medium term turn in trend. In AUD/USD, a close above the 50d (now 0.7835) confirms a turn targeting 0.8296/0.8264, while in...
EUR/USD squeeze not yet finished
Mar 23, 2015 18:35 pm UTC| Commentary
BofA Merrill Lynch notes .... While we remain long term EUR/USD bears, the near term setup points to a further corrective squeeze higher. Gains should be limited to 1.0995/1.1098, but could extend as far as 1.1188...
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