US yields continue to move.....>

US 10YR FUTURE TECHS: US yields continue to move lower. The 10yr technical chart

suggests downside pressure will persist. A look at the monthly chart shows:

- A clear range breakout confirmed in February. A broad range had been in place

since mid-2012.   

- Follow though this month reinforced the importance of the breakout.

- With a L/T downtrend in US rates still in place, the question remains will

they enter negative territory?

- A move minimally above 1.3790% is required to ease the current medium-term

downward pressure. More importantly though would be a break above 1.9713%.

- TY1 key broad-based supports to watch are:

- 135.29, a former pattern resistance-now-support. The pattern breakout occurred

in Feb.

- 127-31, Dec 2019 low.