Comments adjusted on 12/5:
• US 30-Year Bond: Trade was so poor late yesterday that we need to look at what matters, and in the meantime, just scalp setups, etc.: view 150.30 as "last resistance” -- and note the targets up above. The market is vulnerable to the downside; if we GET weakness, I'll favor a move to 149.25.
• US 10-Year Treasury Note: Trade is slightly firm above this pivot; note the mixed bag with 5s. See levels.
• US 5-Year Treasury Note: The pivot COULD have been 124.225 but we need to factor in the SP failure at 1414 late yesterday. It will be pretty bullish, though, if the bulls hold 225.
• S&P500 Stock Index: We're back to range-trading but I won't favor the bulls until they do something with 1419-1422.30. 1392.25 and 1377.50 are two GOOD targets down below -- but they'll be easier to get if trade can reject 1419-1422.30 first.
A proposal to cleave the roles of chairman and CEO at banking giant JPMorgan Chase was defeated in a narrow shareholder …