The 10-Year T-Bill: What's Ahead?
Ed Carlson | Nov 10, 2015 03:28PM ET
The rate on the 10-year US Treasury Note had its best week since June last week with a gain of 8.46% to close at 23.33. It even printed an engulfing bullish candlestick on Friday.
Most of the week’s gain came on Friday’s strong nonfarm payroll report. The breakout from the June bear trendline would seem to open the door for a return to the June high near 24.75 but…
Cycles point to a high near last Friday and a decline into late-November or early December.
The NY Fed report of Primary Dealer activity shows a dramatic dumping of positions by dealers. It appears that dealers aren't waiting for the December rate hike to eliminate risk from their balance sheets.
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