US 10 year yield - you know the feeling when you expect something to come down, but it refuses?
US 10 year yield has basically parked at these elevated levels. Let's see what FOMC says, but when something feels like it should come down, but it refuses, usually the next move up can often be brutal.
Beyond the crazy the moves over past days, US 10 year remains the top focus.
Note the perfect trend channel in the US 10 year. 1.5% is the first big support. 1.6/1.7% remains the resistance area. As Gundlach's said yesterday during his presentation, the copper/gold ratio has US 10 year implying around 3%.
For the short term, NASDAQ vs Treasury futs look to be in disagreement.
Imagine the frustration among short gamma dealers should QQQ decide going lower again.
After all Technology represents 6% of GDP and 2% of all employment, yet the market cap of technology was 38% of total US market cap...
Beyond the crazy the moves over past days, US 10 year remains the top focus.
Note the perfect trend channel in the US 10 year. 1.5% is the first big support. 1.6/1.7% remains the resistance area. As Gundlach's said yesterday during his presentation, the copper/gold ratio has US 10 year implying around 3%.
For the short term, NASDAQ vs Treasury futs look to be in disagreement.
Imagine the frustration among short gamma dealers should QQQ decide going lower again.
After all Technology represents 6% of GDP and 2% of all employment, yet the market cap of technology was 38% of total US market cap...