In spite of the fact that the US Treasury Bond in its fifth year (!!!!!!) of a massive bear market, and it looks perfectly capable of falling further…………..
…………I am impressed at how the 5-Year T-Note Futures……….
…….and the 2-Year T-Note Futures have been shaping up.
Although neither of these bases are complete, they’re very close, and it seems a breakout is very nearby. Are Bessent and/or Powell going to take action which will be of aid to these shorter-term securities, irrespective of how shaky the 30-Year /ZB looks?
Perhaps this is why the IEF fund (7-10 Year) is looking like such a potentially terrific long position.
Worth watching closely!
