Blake Morrow’s Chart of The Day – August 25th 2021
10Yr Notes
We have a big week in financial markets and the bond market and currencies are consolidating. Specifically, the 10Yr has been developing a triangle consolidation for the last couple months, and while we trade below the 200dma (which we rejected all last week) the risk may be for a move lower (higher yields) as we head into the key event for the week, the Jackson Hole Symposium. If the FOMC members and Chair Powell give us a more hawkish tone, we could see bonds break lower and yields higher in the coming days. A move above the 200dma from here would be very bullish for the bond market.
Blake Morrow
