The 10 year note will play a key role as a market range breaker. Note the inverse H&S pattern forming the right shoulder in July/Aug suggesting a last gasp of Bull hope before rates blow toward the 5% range. Combine this with the long term crude being driven higher and the inflation trade is on.
Bottom line is you better be looking to get short Everything with a ticker as oil tops $75 for no reason at all and the 10 year note bottoms out at 3.275% .
No comments:
Post a Comment