Important Shift in Yields
While everyone was focused on equities yesterday, I think the most important market movements we saw yesterday came from the 10 and 30 year treasuries.
It looks at though 10 and 30 year yields have finally, after months, broken out to the upside. As I’ve said repeatedly, getting long yields is going to be one of those “trades of a lifetime” but the trick is you’re got to be patient.
It looks to me like yields have finally broken out to the upside, and with the fundamentals of a less accommodative/more hawkish Fed, the technical and fundamentals are in line.
I’ve been faked out too many times on this trade so I’ll wait for another close or two before putting a position on, but it looks like the time is finally near to get long yields.
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