Thursday, March 9, 2017

Treasuries at Tipping Point...03.09.11

We mentioned last week that 117 looked like the long term support level for TLT.....a level that was penetrated today.  The mood has clearly become bearish for bonds and prospects for a recovery are cloudy.  These developments put a damper on recent TLT Ponzo forecasts which suggested modestly positive action for the next 18 weeks.  AND, if Yellen's hints that March will see a FED rate hike come to pass the odds for a Treasury recovery diminish even further.