Treasury Yield Patterns Heading into FOMC Meeting

Heading into this week's FOMC Meeting, my pattern work on both 5- and 10-year Yield indicates that a correction ended and a new upleg started after the May 28-29 lows at 1.46% and at 2.40%, respectively.

An uptick in expectations of stronger U.S. economic growth during H2 2014 perhaps raised expectations of inflationary pressure.

Any sign or innuendo from the Fed later this week that its tapering-tightening schedule will be accelerated could impact 5- and 10-year Yield in the days and weeks ahead.