Stocks Spooked as Yields break Head & Shoulders Necklines
Stock-Markets / Stock Markets 2015 May 12, 2015 - 10:29 AM GMTThe Head & Shoulders neckline was redrawn on TNX, but the outcome is the same. Yields are now going high and it is being recognized
The 30-year yield is back over 3.00%. ZeroHedge reports, “Having briefly tested above 3.00% on Thursday, for the first time since December 2nd, 2014, the post-payrolls reaction continues today with 30Y yields up 9bps and back above the 3.00% Maginot Line. We note, additionally, that as Deutsche reports, net short exposure to Treasuries is back at the extremes of its recent range.”
This is now spooking stocks, as mentioned earlier. This decline may get nasty.
Regards,
Tony
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