Needless to say the importance of US10Y yield which is the major contributor of the volatile market in the past 3 weeks.
I do hope that investors ignore the rising rates and focus on the benefits of economic growth. However, that day has not come yet. Let's go back to the chart.
As mentioned in my previous idea, the new range is 1.41% to 1.97%. Now we're almost the at the half of the new range. With a higher low formed, a higher high is very likely to be formed today!
What does it mean to the market?
[bearish on bonds bearish on gold bearish on stocks ]
At the end of day, investors will get used to the normal number of 1.8% to 2%. Until then, the rising rates will still be the concern of bullish buyers.
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I'm right. Higher high has been created today!
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Bullish trend continues.
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It reached the level above 1.7%..2% is just around the corner.