Análisis Bono 10 años USA

We have been and remain long-term US Treasury bears, with 10yr yields targeting 3.17%/3.30% and, eventually, 3.45%/3.50%. HOWEVER, right here, with 10yr yields struggling to maintain the break of 3.00%/3.012% support (61.8% of the Apr’10/Jul’12 decline and early Sept. highs), we are NEUTRAL, taking a wait-and-see approach. Indeed, the risk for a near-term and, potentially, medium-term yield top and turn lower is quite high. Watch 2.970%/2.965% resistance AND ESH4 support at 1833.50/1824.50. Through these levels would say that 10yr yields have formed a near-term top and bullish turn in trend, as investors adopt a more defensive posture and ESH4 enters into a near-term correction within the larger bull trend.




Fuente: BofAML's Macneil Curry y Zerohedge.com