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INTEREST RATES

March T-bonds closed up 1/32's at 151-11.

March T-bonds closed slightly higher on Wednesday. Many Federal Reserve officials expressed support for raising interest rates fairly soon if the economy stays on course or strengthens, but the fiscal policy of the new Trump administration is a wild card. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 151-13 would temper the near-term bearish outlook. If March renews this month's decline, January's low crossing at 148-30 is the next downside target. First resistance is the 25% retracement level of the July-December-decline crossing at 153-29. Second resistance is the 38% retracement level of the July-December-decline crossing at 157-16. First support is January's low crossing at 148-30. Second support is December's low crossing at 147-04.

March T-notes closed up 20/32's at 124-245.

March T-notes closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off December's low, the 38% retracement level of the July-December-decline crossing at 126.057 is the next upside target. If March resumes the decline off February's high, January's low crossing at 123.180 is the next downside target. First resistance is the 38% retracement level of the July-December-decline crossing at 126.057. Second resistance is the 50% retracement level of the July-December-decline crossing at 127.105. First support is January's low crossing at 123.180. Second support is December's low crossing at 122.145.

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