DJ Debt Futures Consolidating Ahead Of CPI, Greenspan Tuesday
By Allen Sykora
BEND, Ore. (Dow Jones)--Interest-rate futures in Chicago have been near
steady to slightly softer Monday, but are mainly consolidating on a morning
when no major economic reports are scheduled. Traders could be on hold until
they get a pair of reports and Federal Chairman Alan Greenspan speaks on
Tuesday, analysts said.
At 0755 CDT, December 10-year notes were down 1.5 ticks at 113-05.5,
December Treasury bonds were unchanged at 113 even, and March Eurodollars were
unchanged at 97.57.
While the futures finished softer on Friday, they did pare their losses
into the close, which might have been some flight-to-safety buying ahead of
the weekend, said Lara Akin, financial futures analyst in Chicago with
Refco.com.
"You could be seeing a little unwinding of that," she continued.
Otherwise, said the analyst, the market does not have much fresh news upon
which to trade.
"We're looking more toward tomorrow with the CPI (Consumer Price Index)
release and the Greenspan speech as the more important things for the early
part of the week," said Akin.
In addition to CPI, housing starts are also on the calendar Tuesday.
Greenspan is scheduled to speak on the mortgage market and consumer debt
before America's Community Bankers meeting in Washington.
In the meantime, Akin put support for both December Treasury bonds and 10-
year notes at 112-23. Resistance for the 10-years is seen at 113-18 and for
the Treasury bonds at 113-17.
Support for March Eurodollars was projected at 97.52 and resistance at
97.61.
-By Allen Sykora; Dow Jones Newswires; 541-318-8765;
[email protected]