Currently: Long Looking to: Sell / short @ 137’12
As of 1/8/21 close: 136’21
LAST WEEK: We suggested selling longs / getting short at 138’20.5 with stops on shorts on a close above 139 and with a target for covering at 135’15.
UPDATE: 10-Year US Treasury Price futures surprised us by dropping in price below 137’07.5 last week. That was a very bearish development for bonds. We now must shift to selling rallies instead of buying dips.
We would exit longs and get short of TY futures on a bounce to 137’12 and would look to cover at 134’30.5.