Charts Suggest to Sell Treasuries in May and Go Away
- 10-year yields have some way to go before meeting resistance
- Yield curve has scope to steepen on a mean reversion
Do Ultra-Long Bonds Make Absolute Sense?
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Last month’s rally in U.S. bonds notwithstanding, bears remain in control of the market, chart patterns show.
Renewed pessimism is seen across the spectrum of assets ranging from 10- to 30-year notes, which points to a steeper yield curve, specially as the market positioning clears out after the biggest short unwind on record.