US Bonds have been breaking down for about a year now, and although there will be small bounces along the way, the pattern is fairly clear. The next meaningful resistance is the price gap on TLT at 155.66:
Bonds Bearing Down
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At Any Rate
Now that the runoff is complete, it seems like the market is anticipating much higher interest rates (which the banks are gobbling up with gusto). Witness the absolutely demise of bonds taking place right now by way of TLT:
Ripping a New Hole
Well, it’s that time of year again – – late August, when the annual Jackson Hole conference o’ surprises appears. This article from Bloomberg makes it plain what’s coming up with the big closing speech this Thursday morning………..
Bond Break
After climbing steadily for months, bonds (by way of TLT) have broken their intermediate-term uptrend.
Sub-Zero
Thanks to the multi-trillion dollar help from our buddies at the Fed, interest rates are reaching depths no one would dare imagine even a couple of years ago. 30-year fixed mortgages that start with the number 2? Incredible! Care to divine the trend of interest rates?
