Posted To: MBS Commentary
Bonds enjoyed a nice little winning streak beginning last Thursday. As of yesterday, it had carried 10yr Treasury yields below the important 2.95% technical level. From a technician's point of view, this initiated a " test " of the pivot point. And if pivot points aren't your thing, we could just as easily say it initiated a test of the 21-day exponential moving average at the heard of the Bollinger Band study. Either way, today's weakness means that those tests failed , or to adhere to the technical analyst's lexicon, those tests were not 'confirmed." What does this mean? Nothing too sinister. For all we know, technical analysis could just be something we use to occupy our time when we can't draw any more obvious conclusions between fundamental inputs...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily https://ift.tt/2Mfs7v8
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