Monday, March 14, 2005

YHOO FINANCE BOND DATA

11:59AM Treasury Market Near Unchanged : The market has continued to suffer against an inflationary background and on the heels of the worst weekly sell-off in 10-months. The session has seen a few pops higher, while worrying over upcoming data, high commodity prices in general and crude oil in particular. The market has another data-free day, with the big events of the week starting to trickle in on Tues (retail sales, foreign security purchases and NY manufacturing) while, once again, Federal Reserve Chief Greenspan will be before the Senate testifying on social security (10:30ET). The futures market has retained a large long position in 10-yrs as the CFTC's Commitments of Traders shows that commercial entities added more to their net-long stance, and increased "by a whopping 140,000 contracts," notes one long-term player, noting "ownership structure holds a bullish bias, but that argument has lost teeth amid the recent sharp decline in prices as the small specs have been able to build equity."

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