HALISTER1: U.S., U.K., German, JGB Yields Show ‘Bottom’ Patterns: BofAML

U.S., U.K., German, JGB Yields Show ‘Bottom’ Patterns: BofAML

(Bloomberg) -- U.S., U.K. and German 10Y yields and JGB 30Y yield “all have technical bottom patterns in place” and “want to go higher,” BofAML technical strategist Paul Ciana said in Oct. 26 note.
  • UST 10Y yield is targeting trendline and 100-week moving average resistance near 2%; UST 30Y yield “is forming a large wedge pattern,” suggesting it “could have substantial upside” on a closing breakout above 2.60%
  • U.K. 10Y yield is pursuing head-and-shoulders bottom target of 1.31%
  • German 10Y yield, having broken above 200-DMA, has scope to 19bp and possibly 30bp
  • JGB 30Y yield remains in head-and-shoulders bottom pattern barring break of neckline at 43bp
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Paul Ciana (Bank of America Corp)

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