Fibonacci levels again proved significant across the curve last week. The 130 bps level (50% Fib) has stared down $NOB for the last 2 years. The curve wants to steepen, but the Fed’s pocketbook is overcoming fundamentals. 137 bps is the next stop steeper; 123 bps flatter.
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NOB Faces One Tough Hombre at 130 bps
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