Are bonds scared of copper heading higher? Are bonds scared of crude oil heading higher? Are bonds scared of the employment stats getting stronger? Humbly, I don’t just don't know.
I do know this from a price perspective. The top chart shows that copper has pushed higher this past month and bonds have been weak. A nearly 7% decline for (ARCA:TLT) in 30 days is a pretty large decline for that ETF.
The chart below looks at the yields on the 10- and 30-year bonds. Both are testing steep falling resistance at this time.
If yields breakout above these resistance lines, bonds should remain under selling pressure. Regardless of the news, what bond players do at these resistance lines looks to be pretty important for the bond markets going forward.
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