Near Term Trend: Negative
Friday’s Close: 125’075 Yield: 2.387%
UPDATE: Two weeks ago 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 2.43%, and entered into the upper range of the yield zone whereby they should consolidate, not violate 2.45% - 2.50%, and actually retrace slightly.
Thus far that had been the general track last week.