30-year bond

30-year Treasury bond

Last week 30-year Treasury bond futures successfully tested and surpassed its all-time contract high (see last Monday’s report).

Last week 30-year Treasury bonds extended the previous week’s break out of its three-month consolidation band as the USU soared to my maximum upper weekly boundary projection at 168-22/25.
Bons have traded in a range; look for a break above 141-23 or below 141-07.
NO clear pivot for December bonds but key resistance at 141-22.
The 30-year Treasury bonds have a long way to go in either direction before hitting major support/resistance.
Wide sweeping ranges has made support and resistance levels equally wide but there are some levels that you need to watch.
Yellen in her testimony to lawmakers yesterday highlighted weaknesses in the labor market, such as the number of long-term unemployed, even as the economic outlook improves.
We notice that a downtrend channel resistance line has been forming since December in the U.S. 30-year bond. The market has been staying below this important line.