Like the other Fixed Income markets trading in T-Notes Monday was subdued. Despite marginally lower levels prices closed for limited movement. This kept the market below the 13 day mvg avg but the bearishness of that is countered by positive signals for sentiment. This conflict means the immediate outlook cannot be entirely clear but with Asia attracting buying interest sentiment is assessed as mildly positive.
There is upside scope to 132-115, 132-165 or even 132-23. Setbacks near 132-01 will attract buyers and only below 131-255 is assessed as negative