US 30-year bonds may be breaking out
Here's a picture that pains a thousand words and they all say the same thing: Bond bear market.
If I scrolled out much further, it would also show a major downtrend from the 1980s that also comes in around 3.25%.
Bill Gross has tweeted that his 3.23% line in the sand is broken on an intraday basis. For me, I want to see 3.25% broken for a few days -- maybe a weekly close.
If that happens, it's a major technical break for all markets.
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