And there’s your breakout. Long bond futures are up more than a point in price in the early going after a strong overnight session.
We have one more potential, fundamental obstacle – the $12 billion sale of 30-year Treasury Bonds today.
We’ll learn the auction results at 1 p.m. If they’re strong, it could be just the thing to turbocharge this move. If not, we’re at risk of a reversal around key levels. Interesting times for sure.
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REM and NLY still lookin’ good, especially that 11% yield. :-)