Last week we showed that the 10Y was on the cusp of breaking out above the most critical trendline of this decade. Well, following today’s largely illiquid surge in the dollar and selloff in the Treasury complex, briefly halted by the steller 7Y auction mid morning, the trendline has been officially broken.
Now, as a trading desk put it, “is when it gets interesting.” As RBC’s head of cross-asset strategy Charlie McEliggott summarizes today’s move, “the duration unwind continues.” More:
Read the Full Article: Source – Zero Hedge
Time For Truth: (Zero Hedge) – The Most Important Bond Trendline Is Broken: "Now It Gets Interesting"