Election Plunge Leaves Treasuries Most Oversold Since ‘07: Chart

After last week’s bond-market tumble, technical indicators such as the relative-strength index are signaling the move may have gone too far, too fast. Treasury 10-year notes plunged by the most in three years as U.S. President-elect Donald Trump’s policies are seen boosting spending and quickening inflation. The 10-year yield’s RSI rose to about 80, the highest since 2007, with a number above 70 signaling yields may be overbought -- or, in other words, that the notes may be oversold.

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