The Big 3 Broken Trendlines

With positioning at record highs, sentiment at extremes, and The Fed about to drop the next hawkish tape-bomb, the following three massive trendlines remain the ones to watch across the interest rate curve...

The decline in 10Y Treasury bond yields has broken its multi-year trendline...

 

The 5Y Treasury yield has broken above its 4-year-long resistance...

 

And the shortest-end of the interest-rate curve has decidedly broken its trendline...

 

But once again, everyone is already on the same side of these trend-breaking moves...

At the long-end...

 

And the short-end...

 

Source: RBC's Charlie McElligott