The Machines Are Coming For The Bond Shorts

The 10 year

Back on October 8, with the US 10-year pushing 5.30–5.35%, we pointed out that everybody was expecting yields to move higher. That was precisely the problem. Fast forward to today, and the 10-year has moved from the top of its trend channel around 5.3% all the way down to channel support near 4.9%. The 100-day moving average sits slightly lower, around 4.8%.

If you played this move, time to say thank you and move on.