Adjusted on: 6/2 30-Year Bond: If the bears take out this pivot we should look more for a 135.06 print than a meaningful bounce off 135.15. Holding the pivot keeps the bulls intact – but then they need to re-claim 137.04.
10-Year Treasury Note: As long as trade stays below this pivot we must favor the bears and a move to 124.015. Upside, the yield is obviously going to be important – and I feel trade thru 125.08 should be enough “slippage” to assume the bulls have taken control and will target 125.19.
5-Year Treasury Notes: We can take direction off this pivot – but there are so many solid levels to contend with…here
are the highlights: if the bulls can take out 119.27 it lets them go after 120.14. Weakness – especially thru Monday’s low-
wants to print 119.025 and likely test 118.295. S