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Holy Cow Batman….did you see what happened to the yield on the 10-year note this week? Is this a sign of a growing/improving economy? Mortgage rates going to change due to this movement?
Yields looked to have tested a channel breakout as support this week and took off at (1).
Consumer Discretionary (XLY) is breaking above a 15-year resistance line below…
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Higher discretionary stocks and higher interest rates….all is good in the neighborhood! 😉
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Yet if we drew a line paralell to your channel along the february and may 2011 in yields, wouldn’ we be right below resistance presently?