looking for oil to retest 89.80-89.90 level. the oil markets/equity/bond/dollar index/gold are interlinked in gross price movements.
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Fed/Treasury is playing a dangerous game, they use equity spike downs, to break through resistance in bond prices, when equities resume upward trend the bond prices overall maintain their levels. Its advantagous for bond yields to be as low as possible in terms of financing US debt. So how can both markets be at their highs?.. As the trading houses gap down equities, the bond boys buy bonds and push prices through upward resistance. As the equities are immediately brought back up from the gap down, bond prices come under pressure only marginally.