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###POV: GAME CHANGER? The push higher...>

US TSYS/30Y
US TSYS/30Y: ###POV: GAME CHANGER? The push higher in 10-Yr Tsys has arguably
garnered most attention Thurs morning, but the biggest move may be in 30-Yr Tsys
which at at 3.3789% have broken out of a 30-yr (appropriately!) trend channel.
- For chart of breakout, use the following link: https://tinyurl.com/30YUST
- DoubleLine`s Jeffrey Gundlach tweeted on Sep 18, presumably referring to the
May high: "Watch 3.25% on 30's. Two closes above = game changer." By that
criteria, a close at present levels Thursday would be a game changer.
- Technicals certainly point in that direction. If the yield can hold here, the
next major upside level is arguably not until 3.9744%, the 2014 high.
- The 3.3895% level hit early Thursday was highest since mid-July 2014.
- Compared with other 30-Yrs now vs then, and either the US yield advantage
looks set to widen even more, or others will go a long way to go to catch up.
- Germany 30-yr`s mid-July 2014 high was 2.1690% (now at 1.137%); UK was 3.404%
(now 1.989%) - both have weakened but neither are really breaking out.
- Japan`s 30-Yr yield, at 0.955%, looks closest to USTs in terms of a similar
breakout. But likewise still well off the July-14 high of 1.7240%.

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