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Ahead of Jobs Report, What Next for 10-Year YIELD (TLT, TBT)?


Heading into Friday's Jobs Report-- and another potentially-significant data point for the Fed—the 10-year YIELD is perched atop its May-Jan uptrend, and poised to accelerated to new highs that my work projects into the 3.25%-3.30%, on the way to 3.50%-3.60% thereafter-- to conclude the entire initial-yield bull-market upleg off of the 7.25/12 low at 1.38%.

If my pattern work is to prove relatively accurate, then the reaction to tomorrow's Employment Report should be positive for YIELD, but if not-- in the event of surprisingly-weak Jobs data-- YIELD should find powerful support in the 2.88%-2.80% area.

Only a break below 2.80% will argue that YIELD is heading for another test of intermediate-term support at 2.55%-2.47%.

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