US10Y yields
Beyond Scott Bessent, bonds saw some buying pressure on the touch of the multi year resistance zone (around 4.66-4.72%). Normal reaction.
But I don’t see it as durable. The tightening pattern / rising support line points to ongoing macro pressure the other way. We got more issuance and liquidity demand at this vertex than the reverse. Resistance should be taken out with relative ease.
Stay alert. Yields are the price of risk in the world.
Beyond Scott Bessent, bonds saw some buying pressure on the touch of the multi year resistance zone (around 4.66-4.72%). Normal reaction.
But I don’t see it as durable. The tightening pattern / rising support line points to ongoing macro pressure the other way. We got more issuance and liquidity demand at this vertex than the reverse. Resistance should be taken out with relative ease.
Stay alert. Yields are the price of risk in the world.
