April 3. Post employment yield curve…5/30 breakout
US Treasury market is closed today but the futures markets were open….
After Employment data, with NFP up only 126k, FVM traded up 14/32 at 120-26, an equivalent decline of 8.5 in Fives. Ultra Bond traded up 1-08 to 171-26, an equivalent decline of about 4.25 bps in the 30 yr yield. I marked 5/30 on Friday at 118, which is already a breakout of the downward sloping trendline from late 2013. However, with today’s action we’ve also leap frogged over this year’s high of 120…should now be around 122 bps. I would put initial target at 140… .382 retracement is around 160.
5/30 breakout
