IC Trades: Bunds bounce.
Investors Chronicle - magazine and web content, June, 2009
Byline: Dominic Picarda
TRADING IDEA: The next leg of Bunds' bull market may be underway
The Latvian currency crisis could mark the start of bigger wave of financial distress in Eastern Europe and the Baltic, which would mean trouble for those eurozone countries that have invested heavily in those regions.
In such an environment, German government bonds - or Bunds - should prosper. The Euro Bund future has bounced off a key retracement level and its weekly cloud, bang on a 13-week cycle-date. The next up-leg for Bunds could therefore have begun, with key targets at 121.54 and 123.50. By contrast, a dip below 117.47 opens up a fall to 115.70.
IC Trades are written by Investors Chronicle writers. City Trades are written by...
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