Adjusted on: 1/7 30-Year Bond: I’m still trying to focus us on KEY prices; bonds spent MOST of Tuesday waffling around
this pivot – an attempt to stay neutral into Wednesday’s events? Assuming we get good moves Wednesday, here are a fewthoughts: 130.16 is the best fade of the upside pivotals; trade thru 131.12 SHOULD get to 131.21; there is NOTHING below128.16 until 124.14.
10-Year Treasury Note: Given Tuesday’s difficult trade (refusing to get strong after failing to get weak) I set a high pivot here; if the bulls are establishing control lets make them prove it. 124.035 will be key all day -it is a key price for longer-term direction (worst-case scenario after all the reports etc would be for trade to remain between 123.04 and 124.035– basically longer-term neutral). Trade up thru 124.26 will go after a buy-trigger at 125.23. I think any GREAT weakness here starts below the 3% (last seen 123.04).