Halister News

(Bloomberg) -- Focus remains on Fed Chair Yellen’s testimony today and tomorrow, and the U.K. EU referendum on Thursday amid lack of U.S. data.

• Expect muted yield moves on the back of Yellen, particularly given the market’s focus on global geopolitics, JPMorgan writes in a client note; still sees 1.68%-1.70% zone as support for U.S. 10-year note
• Lack of time between Yellen testimony and her post-FOMC speech on June 15, which included a great degree of uncertainty, mean there’s not enough time to get any certainty on much of anything, RBS writes in a client note
  • Given it is an election year, there may be an even greater degree of grandstanding than usual by the senators: RBS
• EU referendum outcome promises to be meaningful test of liquidity in key markets; results will risk an exaggerated move based on participants’ unwillingness to stand in front of the initial price action, CRT writes in a note
• Technicals:
  • Resistance: 131-20 (June 20 high); 131-26 (June 17 low); 132-03+ (June 16 low)
  • Support: 131-04+ (pivot s1); 130-30 (50% retreat of May 31-June 16 rally); 130-16+ (61.8% Fibo of May 31-June 16 rally)