Near Term Trend: Neutral
Fridayâ€™s Close: 124â€™250 Yield: 2.41%
UPDATE: Ten weeks ago when yields were trading 2.35%, we stated, â€śNear term - Yields start to become extended (overbought) within the next 10-15 basis points (2.50%)â€ť.
Hence, we were correct as Yields have backed off once it traded above 2.50%.
NOTE: As it related to the March futures, our proprietary resistance region of 125â€™040 has been generally holding for the last five weeks.