10Y Yield Looking Strong After a Weak 20Y Auction
Updated
If I were a betting man, I'd say the 10Y yield looks poised to test 1.20% as early as this week. A weak 20Y auction which saw $24 Billion in demand at a significantly higher yield than December, could be indicating weakness in the bond market.
Note
Will we see a retest of the 21 day EMA before another leg up? Maybe. In that case we may see the spike in yields next week. Let's see how the week shapes up. Jobless claims tomorrow and 845k claims expected. Last week we saw 965k...
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