JPMorgan, RBC Technical Analysts Say Short U.S. 10-Year Notes
- Theme that stands out is overbought reading, RBC’s Davis says
- Louis Capital points to ‘engulfing candle’ technical pattern
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The relentless slide in Treasury 10-year yields may be about to end and it could be time to go short, according to technical analysts at RBC Capital Markets and JPMorgan Chase & Co.
U.S. yields will probably rise in the short term, though they are probably still in a longer-term downtrend, RBC Capital’s Technical Strategist George Davis wrote in a note Thursday.