Several asset classes might continue to struggle at key chart levels, but will eventually break |
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Overview Echoes of last week with sharp global market moves. The initial euphoria, and knee-jerk selling of bonds and buying of shares, following the US Treasury’s nationalisation of Fannie Mae and Freddie Mac faded all too quickly. In fact the US Long Bond’s yield was back to where it was on Friday afternoon (4.30%) by 14:00 GMT Monday and dropped to a new recent low of 4.17% Tuesday. The biggest bailout in history and it only bought half a day’s worth of breathing space. Traders’ mindset:
Filed under: Technical
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