Intraday Market Thoughts
Archived IMT (2010.12.08)
by
Dec 8, 2010 14:08
US 10 YEAR YIELDS EXCEED JPN YIELDS BY 1.94%, the highest since July. The US-JPN spread has now regained its 200-day MA for the 1st time since May. It is NO COINCIDENCE that the US 10 yr yield has ALSO broken above its 200-day MA for the 1st time since May 2010. This clearly illustrates how USDJPY is notable beneficiary from rising global yields as yield-hungry Japanese capital seeks opportunities abroad. USDJPY is set to regain last months 15-week high of 84.40, which could pave the way for 85.80-90s by year-end. USDJPY bulls require a close above the 100-day MA of 84 to extend the current leg-up.
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