Foreign holdings of U.S. treasuries fell by a whopping $53 billion in December, the largest amount ever. the rconrd drop should be considered a leading indicator that the government might have to pay higher interest rates on its debt to continue to attract investors. This was weighing on the market today, as it traded below the prior pivot low, confirming the bearish TR pattern and setting the stage for a new downward trending leg.
Technically,T-Bonds have confirmed a bearish TR swing pattern at the end of the 5-wave continuation pattern. The new TR pattern should mark the center of the longer-term cycle with the next reversal swing date on March 3 and a target objective of 111-00. The TMV Swing Trade report is currently short the T-Bonds. For updated infromation on stops movements or new signals keep checking the TMV Swing Trade Report.
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