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The 10 year treasury gave up early gains and closed at the low of the day on light volume. It continues to bounce between its current resistance and support, and now it’s on its way to retest the support area again. The S&P and Nasdaq closed at their multi-year highs today on decent volume. Such action in the equity market apparently added fuel to lower the bond price. The 10 year treasury is at lower half of the channel, which means we should avoid locking rates.
Special credit to Jaques Poujade for the info-
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