Bond Rally Nearing Key Resistance
Interest rates on the 10-Year Note have come down sharply since peaking two weeks ago at 4.81%.
Currently at 5.52%, they have a little farther to fall before reaching my 4.43% correction target. Yes, correction, because I expect another resurgence to push rates to at least 5.5%. Looking at it from a different perspective, TLT, an ETF that tracks the long bond, would need to push decisively above 90.32 to imply the bond rally has staying power. It is currently trading for around 88.38.
But Wait, There Is More!
I encourage you to subscribe to my premium Rick’s Gold and Bitcoin Radar and lock on to accurate gold and bitcoin price targets and sharp strategies to keep the turbulence of these markets on your screen, and not on your nerves. Complementary to the radar is the premium Rick’s Trading Room, a 24/7 hub of market-savvy traders sharing real-time updates and actionable ideas. It’s the ultimate combo. It’s just $39 per month and there’s a 30-day money back guarantee. Subscribe today.