Yield Remains Under Pressure Well After Fed Rate Hike
|As we speak, 10-year YIELD is pressing towards a test of Wednesday's, post-FOMC low, at 2.48% (40.40 in the ProShares UltraShort 20+ Year Treasury (TBT)), which if violated, should trigger additional weakness in YIELD into the vicinity of the dominant support line off of the Nov low (1.72%), which cuts across the price axis at 2.42%.
YIELD weakness must be contained in and around 2.42%-2.40% to avert inflicting meaningful technical damage that presses YIELD towards a test of very significant multi-month support at 2.30%.
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