UPDATE: Macro Monday: Long Aussie 10yr bond futures—#SaxoStrats
Please see Macro Monday Tactical Book: Long Aussie 10yr bond futures—#SaxoStrats.
We are happy with the move we saw in our 10 year bond futures, and we were always wary about having this on for too long (the structural view still sees rates rising globally, and whether the Reserve Bank of Australia takes a hawkish stand will be important; higher global rates will lift rates in Australia).
A 60 basis point gain for one week is brilliant, adding to a much-needed USD60,000 to the portfolio. If we had kept this on, we would have moved the stop to entry.
— Edited by Robert Ryan
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