10-year T-note tanks.(Brief Article)

Futures (Cedar Falls, Iowa), November, 2005 by McMahon, Chris

There are two main issues that could affect 10-year T-note futures in November: inflation and economic contraction, says Robert Fuhrmann, account executive at My Futures Online. Currently, Federal Reserve Bank Chairman Alan Greenspan appears more concerned about inflation. "The market's pricing in an additional quarter point rate hike from where we were just a month ago," Fuhrmann says. After the Fed meets on Oct. 7 and Nov. 1, Fuhrmann expects the new issue will be economic contraction. High oil prices, a slowing stock market and lower than expected corporate earnings, will then affect the treasury market as well. Fuhrmann sees support for the December 10-year T-note at 109-06 with resistance at 110-20.

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"Greenspan seems to...

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