Halister News

(Bloomberg) -- UST 10Y rally “shows signs of maturity as it probes the rich end” of 1.35%-1.70% range likely to persist through August, JPMorgan technical strategist Jason Hunter says in note.

• “We are not fading the strength yet given the potential for the rally to end with a blow-off type reversal, but would enter a new short if the market started to back up through technical support”
• 1.42% is “first line in the sand,” followed by 1.51%-1.55%, above which would confirm near-term trend reversal
• Bearish signs include CFTC non-commercial positioning that is longest in months and T-note dollar-weighted put/call ratio