The US 2-year yield chart has completed clear triple positive momentum divergence on the daily chart (Low, lower low and lower low on yield while posting low, higher low and higher low on momentum)
This further supports the contention that we could see a further squeeze higher in yields and lower on the curve (especially 2's 5's and 2's 10's) in the near term
Very good resistance is met at 3.65% to 3.67% which is the minimum that would be expected with further minor resistance at 3.70%
If we cleared this 3.65-3.70% range, then a danger of a bigger extension towards 3.80%+ would materialise.
I would, however, stress that this is a development on a daily not weekly or monthly chart and therefore at this point does not suggest any medium-term developments.
