Near Term Trend: Negative
Friday’s Close: 131’010 Yield: 1.62%
UPDATE: Ten weeks ago we stated, “Volatility could contract but I would think the court of public opinion keeps yields under 1.75% for the next two months.
That is exactly how it played out.
For the last two weeks we have highlighted the importance of resistance at 131’020 in our chart.
An upside breach (settlement above 131’020 could allow prices trade as high as 132’040.