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The New Fear Gauge: 10-Year Treasury Yield


This chart is fascinating, if only because 10-year YIELD continues to press lower, and has breached its 200-day EMA at 2.63%, and is heading for a test of its prior pullback low at 2.58% on Feb 4.

If 2.58% is violated and sustained, 10-year Yield should head for a test of last Oct's low at 2.47%.

Why the weakness in Yield?

Either Mr. Market thinks any strength in the economic data is smoke and mirrors, or, the fear that the eco-data is smoke and mirrors, combined with profit-taking in the equity markets is driving capital into the "safety" of US Treasury paper, or both!

Whatever the reason, if the e-SPM continues to press lower, and breaks support at 1805-1790, then where will Yield decline to then?

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