10 Year Note—The 10 year note in the June contract settled last Friday in Chicago at125 / 06 while currently trading at 126 / 23 hitting a fresh contract high as the stock market is plunging due to the fact that President Trump has now placed a 5% tariff on the country of Mexico.
I have been recommending 2 bullish positions with an average price of 124 / 25 and if you took that trade continue to place to stop loss at 124/01 as an exit strategy as I think there is still significant room to run to the upside.
As I have talked about in many previous blogs I think the 10-year note will trade at 2% as the yield currently is at 2.18% as interest rates around the world are negative as this rate still looks extremely high in my opinion. The 10 day note is trading far above its 20 and 100 day moving average as the trend is higher so continue to place the proper stop loss and stay long in my opinion as I see no reason to be short the bond market.
At the present time there is very little inflation worldwide as deflation is more of a concern coupled with the fact of strong demand to own U.S treasuries.
CHART STRUCTURE: SOLID
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