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.
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.
