My magic Apple tells me we run into a resistance at 111 '10! 23.60% Retracement A 111 or higher close would be nice.
I'm getting squeezed, thankfully I only put on a small pos... I may add if we fail to make new highs... good timing guys...
10's look like a sale starting @ 107 1/2. If they get there later this week, I will scale into a small short. I will likely add to my 30 YR Long @110 1/2.
Still short the 10-yr bond and sitting tight. Fortunately, I'm still in the black (about 1%), but days like today are tough to watch and do nothing.
Hold long end shorts, good trade in terms of risk/reward with the curve in 2-10's looking to breakout above the +6 basis point level. A near 20 tick rally in the ten year and the curve can't flatten, that says a lot for the flattening move, maybe hitting the end of it, although lots of dealers willing to restablish flatteners at +6 in 2-10's cash. The two-year rally was nuts today as well, situation should alleviate as we hit supply in a couple weeks, until then hold on for the ride.