Tuesday, December 23, 2008

Treasury Tuesdays



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Notice the prices are way above the trend channel that lasted for most of nine months. That's a big deal



Click for a larger image

Notice the following on the daily chart:

-- Prices are 7% above the upper trend line of 9 month trend channel mentioned above

-- All the SMAs are moving higher

-- The shorter SMAs are above the longer SMAs

-- Prices are above all the SMAs

The 10-year treasury is currently yielding 2.15%. Who would have thought that was even possible? A county that is about to balloon its existing debt can do so at 2.15%? Go figure.