Bonds: 2.95% versus 2.986%.
Bonds sold Wednesday after testing the 10 day EMA Tuesday.
Looked as it should be with the Fed hiking rates as the 10 year moved over 3% on the Wednesday close. Then they recovered into Friday, closing near the 10 day EMA.
A failure here means a downtrend is establishing and consummates a head and shoulders formed from late May.
Again, that is as it should be. Yields should rise, need to rise, to prevent a Fed induced inversion.
Historical: the last sub-2% rate was in November 2016 (1.867%).
Source: Investment House