Another look at the monthly chart of TNX (Ten year note)shows that after bouncing this month off 50% 2000/2003 at 49.485, we look headed for a retest of August 2001 and May 2006 highs (51.93). If we move past that, next stop would be 61.8% at 53.91, or 5.9% on the ten year note. This would be very bad news for the equity markets, so keep an eye on this development.
This entry was posted
on Monday, June 19, 2006 at 5:11 PM.
