The bond market made a suspicious move higher in the overnight trading session on low liquidity and no news driven event. Moves like this in the treasury market is a tell tale sign that smart money is repositioning itself for a policy shift or in anticipation of a big event change coming up. The down trendline that was establish back in December to February has been broken and the next clear resistance for bonds is at 129.65. However, since the market has moved up quite a bit already, we would be surprise if it pulls back to test 127.75 before making that next leg up.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.