Treasury bond yields (i.e. interest rates) have pulled back to start the year. However, we believe the pullback may have run its course and bond yields may be headed higher yet again.
After achieving our MFU-3 target at 4.29, the 10-year US treasury bond yield has pulled back into a support zone where we expect bond yields to begin another move higher.
The chart below highlights key rally targets. Note that these targets were generated all the way back in January of last year.
The fact that the two initial targets were hit increases the odds of the MFU-4 target coming to fruition.
10-year US Treasury Bond Yield Index Chart
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