The 10 year yield is in a short-term bounce pattern, which is completely unsurprising as it goes in positive correlation with stocks on their relief bounce from the risk ‘off’ decline in yields.
The 30 year yield is further along, having broken above a S/T resistance area (3.5%) yesterday.
Of course, the longer-term view is that of our Continuum, which will decide what the bigger picture trend is going to be. I am loosely defining the options as deflationary pressure or liquidation (again) or von Mises style Crack-Up-Boom, roosting inflated chickens and all.
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