Treasuries End Higher
June Treasury futures closed mostly higher in bit of safe-haven buying from volatile, faltering stocks. But the upticks weren't very strong. Action Economics said Treasuries technically "appear set up for some two-way trade this week and our expectation is for weakness in the early in the week followed by strength later in the week." They believe a June 10-year futures failure at 109-06/32 area would trigger a downdraft toward the 108-15/32 area before a bottom emerges. That could lead to a renewed rise to 109-27/32, or possibly 110-11/32 before running out of gas, Action Economics says.
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