The gains in 2023 have been so massive (pretty much triple-digit rises across the board), the bulls sure as hell better hope for QE7 through QE12 in 2024 to keep this simulacrum going. One crucial item they’re going to require is for bonds to NOT respect this trendline. If this red trendline does, in fact, represent resistance, and bonds start falling, it’s going to take away an important part of their narrative.
