Yields have broken higher as we expected but didn’t make a sizeable pull back first. Focus is on 2.89 – 2.908 % to complete wave (( iii )) before we get a corrective wave (( iv )) pull back which we don’t like selling into. We do Elliott wave analysis of 25 instruments in 4 […]

Wave B high is in place & wave C has started impulsive thus we remain bearish in the short-term & expect more weakness toward 2.35 % to complete wave C of ( W ) / (( B )) before another recovery.

Wave A is over and B wave pull back can reach as high as 2.65 before yields turn lower again in wave C toward 2.15 – 2.17% to complete wave (( B )). We don’t like selling yields into the proposed swing lower and strategy remains to establish long positions on dips.

Wave ( A ) is thought to be complete thus now we expect a corrective pullback lower in wave ( B ) toward 2.15 – 2.17 area where we expect good support to come in.

Wave ( A ) is nearing completion (can still test 2.78 – 2.84%) before we get a corrective pullback in wave ( B ). Break of 2.59% would be an early indication that wave ( A ) high is in place but only a break of 4th of lesser degree @ 2.46% would confirm this.

Expect 61.8 fib (2.096) to hold for another leg higher toward 2.36 to complete wave ( B ) before yields turn lower again. View is valid while price stays above 2.00%