Interest rates remain elevated as does the U.S. stock market.
That said, higher interest rates translate to downside pressure on treasury bonds.
I write this even though treasury bonds have rallied for much of the past month. But the rally comes off of new lows and within the bottom third of its price construct.
As well, the Treasury Bonds ETF (TLT) put in an exhaustion price candle that could mean the recent rally is coming to an end.
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$TLT 20+ Year Treasury Bonds ETF Chart
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
