Have Bond yields Hit the High?
I'm not an expert here, but this level of bond yields has not been breached to the upside since 2018, and before that 2011.
look at the lovely way the Fibonacci levels hit every pullback in the recent rise and culminate precisely here at 2.95%
If we do continue to the upside, the last level of support, which would now become resistance is marked at 3.89%
Another interesting fact... The SPY and QQQ have both erased all gains of the prior year. Look at a percentage chart for 1 year and you will see we have MAYBE 2-3% drop left.
Fact #3 the market (spy/qqq) will drop on average 10% for every full point rate hike forecasted. We have very nearly priced in two FULL rate hikes or every single bit of expected rate hike forecasted by the Fed so far.
look at the lovely way the Fibonacci levels hit every pullback in the recent rise and culminate precisely here at 2.95%
If we do continue to the upside, the last level of support, which would now become resistance is marked at 3.89%
Another interesting fact... The SPY and QQQ have both erased all gains of the prior year. Look at a percentage chart for 1 year and you will see we have MAYBE 2-3% drop left.
Fact #3 the market (spy/qqq) will drop on average 10% for every full point rate hike forecasted. We have very nearly priced in two FULL rate hikes or every single bit of expected rate hike forecasted by the Fed so far.