For those with a background in waves you will know a 4th wave typically does not retrace more than 50%, in this case 2.55%. Anything above here will question the possibility of a bottom already being placed.

The rise in yields since March has looked impulsive so far which can be early hints and signals that a further move higher is coming. The only level in play here is 2.55% which is the 50% retracement.

Anything above here will do serious damage to the technical flow and will increase confidence in the floor.

Best of luck all those trading Fixed income or tracking it today.

הערה
A good time to update the 10Y chart before we close for a long weekend:

תמונת-בזק

Vol is bouncing somewhat in sync with the rally but remains low on the LT... those investors who are biased towards higher rates and higher vol will be considering buying cheaper payers or payer spreads like the 1Y30Y
עסקה סגורה: היעד הושג
הערה
A perfectly mapped call, well done those riding the macro flow. This was a very complex environment to trade.
10s2s10year10yearnote10yr10yryields2s10sBeyond Technical AnalysisfedTrend AnalysisUS10YWave Analysis

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