If The Shoe FITZ

US 30-year yield. Double 76.4 or something more?

On 29th May the US 30- year yield hit and held the 76.4% pullback of the prior move around 4.75% which turned out to be a pivot point for the next move lower in yields into 14 June.

 
The subsequent bounce into today's high just over 4.65% was again a perfect 76.4% pullback of that fall at which it stopped and subsequently moved lower from.
 
Double 76.4 or more (topside) to come?
 
The coming days will tell but for now this bounce in yields has peaked in exactly the same way as it did in May
 
 

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Tom Fitzpatrick

Tom Fitzpatrick

Tom Fitzpatrick, now the Managing Director of Global Market Insights at R.J. O'Brien, offers an impressive background. Originating from Ireland, his journey began at Chase Bank of Ireland, evolving through pivotal roles in foreign exchange (FX) at HSBC and Nedbank. His expertise expanded at Citibank in various global positions, culminating as Managing Director and Global Head of the CitiFXTechnicals product, delivering award-winning analysis across multiple asset classes.
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