Treasuries Get Whacked Ahead of Jobless and Durable Goods Report

Today's guest is John Bougearel of Financial Futures Analysis and author of Riding the Storm Out. John is going to give us a detailed look into Treasuries and whats driving them. Enjoy and be sure to let us know what you think.
In spite of this week’s early rally, the problem is that both the 10 and 30 year reached their 78% retracements to last week’s highs. While the strength of this week’s rally has been more impressive than any since the March FOMC meeting, we must bear in mind three things between now and next Wednesday and Thursday. This Thursday, jobless claims contracted sharply last week, and may show further improvement. On Friday, Durable Goods showed improvement in Feb, and if you add the 1, that too could carry over into March. These two reports alone could provide further signs of Bernanke’s “green shoots” and Obama’s “glimmer of hope.” Until I looked ahead at the upcoming economic data, I could not figure out what would pick the stock market back up between now and the Fed release of the banksters stress-tests on Monday May 4. What comes into focus is a nascent improvement in economic data, just as Bernanke is seeing it. Continue reading "Treasuries Get Whacked Ahead of Jobless and Durable Goods Report"