Here on Slope, we’ve been watching $TNX and TLT for quite some time, waiting for a definitive move. Interest rates have been inching down lately, and if it breaks that horizontal, I think we can finally rest assured that rates are going to be firmly moving lower for a while.
At the same time, naturally, bonds have been strengthening. The move above the descending trendline was the “all clear”, and bond bulls are probably in for happy times ahead.
