Near Term Trend: Negative
Friday’s Close: 129’275 Yield: 1.80%
UPDATE: Our closing comment last week was as follows, “A daily settlement below 129’25 will push yields above 1.75%”.
Subsequently as of last Monday, the December contract settled directly on 129’250. Yields pushed higher, and I would expect a move toward 2.15% by end of November.
If Equities suddenly drop with a high degree of velocity Yields could retreat, but that would be a temporary situation at best.