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A wide variety of bonds have been under pressure since their May highs. This doesn’t just apply to Government bonds!  The above 4-pack reflects a cross section of bonds (Govt, High Quality Corp & Junk Bonds) that have been weak for months.

Now each of these bond ETF’s are breaking below a new rising support line. Does this have to do with the chart below, reflecting a rally in commodity prices of late?

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The broad based Commodity index (CRX) is attempting to break above a resistance line that has been in place for the past couple of years at (1) above. Once the CRX started moving higher in April, bond prices have been weak.

Could a further rally in the CRX cause more troubles for bonds?  Sure could…. stay tuned and watch the CRX index very close in the next couple of weeks to see if it can close above this important resistance line!!!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past