Bonds
New low yield on the 30 yrs on tuesday. Is the bonds heading to 115 again?
I think that this is very unlikely. There is natural resistance up here that you can see on any daily chart. I think that it is much more likely that we go back down to the 109'16 to 110'00 area and test that again.
right now in the immediate short term 4.72% is pivotal. Once we get past Thanksgiving then the outlook will probably clear from the current cloudiness in the chart
Sideways into Thanksgiving?
Well it is Thanksgiving today so happy Thanksgiving everyone and let us see what the bond markets will do tomorrow. My guess is nothing and it will all start happening on Monday.
I haven't looked at the bond market today but I'm guessing that you're right.
Now that Thanksgiving is out of the way, how many people think that we will see 115 and beyond in the near future?
Well we hit a 120 day high today so I would say that I think that we've broken that resistance that was sitting there. Of course that "test" that we saw there today could have been just that, i.e. a test and nothing more. But I am guessing that the answer will come tomorrow. If we can get back up there tomorrow then it wasn't just a test and then the 115 mark and above become a much higher probability player.
Another 1/2 point on the high of today and we're there.
Looks like it is going back up to 115 and beyond!
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