If The Shoe FITZ | R.J. O’Brien

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

Written by Tom Fitzpatrick | July 01, 2024

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