It’s Still Consolidating

 Today, yields on the 10-year note are up almost 5 basis points to 1.62%. Before anyone gets excited the yield is still in a trading range from 1.50% to 1.70%. Bottom line, it’s still consolidating. Yields are ultimately headed higher very soon, but they have not broken out just yet. Either way the chart pattern is bullish for yields and I will be monitoring them like a hawk for a breakout.  

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