U.S. Interest Rates And Fed At Disconnect
Peter Brandt | Jun 14, 2016 12:01AM ET
The dominant chart construction in Treasury Bonds (30-Year T-Bonds in chart below) is the 10-month symmetrical triangle completed on the weekly continuation graph in late January. The September T-Bonds futures contract has decisively completed a 4-month inverted H&S pattern on the daily graph.
The advance this past week also completed the 4-month congestion zone on the daily continuation graph (not shown). I am long the September contract. Stops have been advanced to just below Wednesday’s low.
Please forgive me for making a quasi-political statement. The behavior of the U.S. interest rate markets and the jaw-boning of the Fed are at TOTAL disconnect. This highlights two facts – the Fed is incompetent and totally out of control and Janet “The Felon” Yellon is way out of her league.
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