Euro−Bund future –Dec 2009

Nicole Elliott from Mizuho Corporate Bank at 11/23/09

Comment: Such slow work as prices hold within the range established since July. It might be too late for this contract, but eventually the March 2010 one should break to new highs.

Strategy: Attempt longs at 121.35; stop well below 120.50. Add to longs on a daily close above 122.00 and again above 123.00 for 124.00/124.60 before year-end.