Bonds briefly tried to bounce today but couldn’t overcome 168^31 but instead pushing lower away from it.
Bonds are near short term support at 168^00 and a cycle inflection.
S&P 500 futures have been lower overnight.
Bonds tried to lift from 168^15 but couldn’t make it over 169^14 which implies lower in the short term to a new low, perhaps around 168^00 though any new low is good enough for pattern.
The market seems to like the jobs number for the moment but I think we are due for a choppy sideways day.
Bond used an old support at 170^01 as resist today and pushed lower as equities rose during the day.
Bonds continued lower to test the next major target of 168^27.
S&P 500 futures held pretty well overnight and thus think it fair to push for a minor new high today followed by another small correction.
Bonds broke lower today on the assumption that there will be a lot of stimulus will be coming down the pike in the near future.
Bonds have been under pressure this morning.