bund, t-bond t-note ecc SOLO LONG FOR EVER

e lascialo respirare un pò essere bruto e insaziabile, s'è fatto due figure e mezza di colpo un rimbalzo ci sta
c'è da insospettarsi se lanciandosi nel gap poi fa lo sborone e si avvicina troppo ai 118 , lì scatta il warning

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fantastico com'è vario il mondo delle correlazioni ballerine, un tempo col petrolio così in alto i bonds sarebbero affondati per i timori inflazionistici invece ora che il nonnetto ha detto che lui da frustate a sangue sul pupù dell'inflatione così sta bella e tranquilla, si può stare ancora sui massimi tutti felici&contenti


Treasuries up as oil spikes, US services data eyed

By Oliver Ludwig

NEW YORK, July 6 (Reuters) - U.S. Treasury debt prices rose on Wednesday as a renewed spike in oil prices above $60 a barrel again strengthened investors' views that higher energy prices could slow interest rate increases.

Traders also said the market is a bit oversold and was ripe for reversal after the market's strong downward move on Tuesday. Investors' immediate focus was the Institute of Supply Management's data on the huge U.S. services sector, due at 10 a.m. (1400 GMT) on the huge U.S. services sector.

Traders said they were likely to pay extra attention to the employment component of the ISM's non-manufacturing survey, as it comes two days before the June non-farm payrolls report, seen as the centerpiece of this week's U.S. data offerings.

"The ISM employment component will certainly get some attention. But the payrolls indicator (on Friday) is the really big number," said Alan De Rose, proprietary fixed income trader at CIBC World Markets in New York.

Economists expect the June ISM services index <USOPMI=ECI> to come in at 58.0, a touch below May's 58.5 result.

Benchmark 10-year notes <US10YT=RR> were 8/32 higher and yielding 4.08 percent after ending the day on Tuesday at 4.11 percent. Two-year notes <US2YT=RR> rose 1/32 to yield 3.77 percent, down from 3.79 percent on Tuesday.

Five-year notes <US5YT=RR> were 4/32 higher to yield 3.87 percent, compared with 3.90 percent. The 30-year bond rose 14/32 to yield 4.34 percent, from 4.36 percent on Tuesday.

OIL CONCERNS

The start of the Atlantic hurricane season was behind the latest spike in oil. Two storms, "Cindy" and particularly "Dennis," were seen as potential threats to Gulf of Mexico oil and gas installations at a time when supply and demand are precariously balanced.

"Oil prices are the focus at the moment. Having said that, it's not a particularly active session. It's too risky to do much before non-farm payrolls," said a trader at a European bank in London.

Oil prices inched back above $60 a barrel on Wednesday, reflecting worries over refiners' ability to bolster pre-winter fuel supplies.

Bond bulls snapped up bonds when oil prices climbed on the perception that rising energy costs could hurt corporate profits and consequently hamper employment and investment.

"The higher oil prices are being viewed as a governor on growth rather than an inflationary risk," said CIBC's Rose. But Rose added that to really grip the bond market, oil prices would have to rise even higher to between $61 and $63 a barrel.

Traders also said some investors shifted out of euro zone debt into U.S. Treasuries after recent data and policy-makers' comments dimmed hopes for a euro zone rate cut later this year. ((Reporting by Oliver Ludwig; Editing by Walker Simon; Reuters Messaging: [email protected]; email [email protected]; Tel: 646 223-6233))

--------------MARKET SNAPSHOT AT 9:01 a.m. (1301 GMT) -----------
Dec Eurodollar <EDZ5> 94.76 (+0.00)
June T-Bond <USM5> 117-06/32 (+12/32)
June 10-year note <TYM5> 112-11/32 (+06/32)
Change vs Current
Nyk yield
Three-month bills <US3MT=RR> 3.14 (+0.05) 3.209
Six-month bills <US6MT=RR> 3.31 (+0.02) 3.413
Two-year note <US2YT=RR> 99-23/32 (+01/32) 3.773
Five-year note <US5YT=RR> 98-29/32 (+04/32) 3.872
10-year note <US10YT=RR> 100-12/32 (+09/32) 4.078
30-year bond <US30YT=RR> 115-30/32 (+15/32) 4.339
 

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