It’s Still Consolidating

Today, yields on the 10-year note are up almost 5 basis points to 1.62%. Before anyone gets excited the yield is still in a trading range from 1.50% to 1.70%. The bottom line, it’s still consolidating. Yields are ultimately headed higher very soon, but they have not broken out just yet. Either way, the chart pattern is bullish for yields and I will be monitoring them like a hawk for a breakout.  

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