This is the equivalent of a losing football team that got blown out by 3 touchdowns or more for the last 8 games finally only losing by 1 touchdown.
Here is a link to the actual 10 year bond price, not the yield but the bond price. Click on that link, click on 1D (for daily) and then zoom out to where it shows as far back as at least 2018.
Without knowing anything more except for this chart you will see that the trend is down and 1 auction that was not a total shit show does not change the fact that the 10 year peaked at 1round 140 in July and is now barely holding 132.50.
This is AFTER hundreds of billions of dollars of FED buying. Yields will not stabilize until bond prices go back up.
I still think that the price has to drop to around 128 and the yields have to pierce 2% for the FED to fire the cannon for the next major round of intervention.
Lastly, if you want some more historical context of what today's market could look like, study the weekly S&P 500 chart of the 2000 market top to collapse. Take a look at how it would dip and then rip from summer of 1999 through the first quarter of 2000, ultimately making it's peak in mid March of 2000.
This is the equivalent of a losing football team that got blown out by 3 touchdowns or more for the last 8 games finally only losing by 1 touchdown.
Here is a link to the actual 10 year bond price, not the yield but the bond price. Click on that link, click on 1D (for daily) and then zoom out to where it shows as far back as at least 2018.
https://www.investing.com/rates-bonds/us-10-yr-t-note-advanced-chart
Without knowing anything more except for this chart you will see that the trend is down and 1 auction that was not a total shit show does not change the fact that the 10 year peaked at 1round 140 in July and is now barely holding 132.50.
This is AFTER hundreds of billions of dollars of FED buying. Yields will not stabilize until bond prices go back up.
I still think that the price has to drop to around 128 and the yields have to pierce 2% for the FED to fire the cannon for the next major round of intervention.
Lastly, if you want some more historical context of what today's market could look like, study the weekly S&P 500 chart of the 2000 market top to collapse. Take a look at how it would dip and then rip from summer of 1999 through the first quarter of 2000, ultimately making it's peak in mid March of 2000.
Mid march 2021 is next week.