UST 10Y HITS MATASII TARGET OF 2.65%
We established the TNX Target of 2.65 during the "HEAD" formation build process. It was confirmed with the break of the long term diamond pattern.
There is no reason that the TNX may test the Long Term "Closing High" Trend Channel ( dotted red line) in the 2.50% range before rising to put in our expected right shoulder.
This is a capital gains of 59 basis points or 5.9% on the 10 year bond since the first week of October. On the 30 year bond it has been 13.5%.