Jun. 26 at 3:28 PM
$SPY $UTEN $TLT $SHY Well, I really wish I had been able to review charts last night, bc I would've remembered there is a bearish megaphone on the US10Y that is targeting ~4.20 (but I literally am busy from sunup til sundown lately).
The reason why yields are dropping really matters. Is it because the Straight is finally open and there is less uncertainty in the market, or is it because the market is starting to price in disinflation (or possibly even deflation)? The REASON yields are moving directly affects how other assets will respond.
TLT was also staging a breakout, but got pushed back below its major Res line (for now). Shorter term yields (SHY) look like they're already breaking down, if it holds (remember, yields have an inverse correlation with price).