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INTEREST RATES

June T-bonds were lower overnight. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 147-30 would confirm that a short-term low has been posted. If June extends the decline off March's high, the reaction low crossing at 145-03 is the next downside target. First resistance is the 20-day moving average crossing at 147-30. Second resistance is March's high crossing at 150-21. First support is the reaction low crossing at 145-03. Second support is March's low crossing at 143-16.

June T-notes were lower overnight. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 123.201 would confirm that a short-term low has been posted. If June extends the decline off March's high, the reaction low crossing at 122.120 then March's low crossing at 121.155 are the next downside targets. First resistance is the 20-day moving average crossing at 123.201. Second resistance is March's high crossing at 124.310. First support is the reaction low crossing at 122.120. Second resistance is March's low crossing at 121.155.