The Bond Supertanker Is Turning: 6% Yields Or The Mother Of All Short Squeezes?

Higher for longer?

The 10-year has spent the past three to four years consolidating “up here.” The 200-week MA is now positively sloping, and a decisive break and close above 5% risks triggering a major vacuum move.

Take out 5%, and this could become the supertanker finally turning, from a multi-year consolidation into a structural acceleration higher.