Near Term Trend: Negative
Fridays Close: 125065 Yield: 2.37%
UPDATE: At the start of last week, when yields were trading 2.35%, we stated, Near term - Yields start to become extended (overbought) within the next 10-15 basis points.
Yields traded up to 2.39% this past week, and entered into the upper range of the yield zone whereby they should consolidate, not violate 2.45% - 2.50%, and actually retrace slightly.