Hi Alan, ..Re:<<Project A trades>>
According to the final options and volume for Project A session for June 4, looks like there was buying in the 121P and 122P.
cbot.com
I think since it was pretty light that it was hedging, (hindsight).<ggg> Today was a dud for a bond sell-off and worse CNBC saying the loss in manufacturing jobs, (26k) due to Asian slowdown. Did we sell them clothes? I don't think so.
stats.bls.gov
Manufacturing employment fell by 26,000 in May, after 3 months of
little change. The largest decrease was in the apparel industry, which continued its long-term decline with a loss of 9,000 jobs. Most other industries experienced small employment losses over the month. Employment in both electronic components and industrial machinery declined for the second month in a row; these industries had added jobs steadily during 1997. In contrast, the furniture and fixtures industry continued its recent growth, adding 3,000 jobs in May, and employment in chemicals and allied products also rose by 3,000.
Anyway, I would be interested in your thoughts as to why the bonds are rallying in the face of all this (especially consumer spending) when you have extra time. $ is good (100.12), July crude is only up a penny right now and unemployment rate still at 4.3%! Are we having foreign buying of bonds since it's not a flight to safety from stocks today? I don't understand and any help is greatly appreciated.
Regards,
Lee
PS/Edit - Could it be the floor traders shooting for 5.75% and trying to take out some stops? |
