US 10-year T-note yields formed a 3-month top on breaking below bull trendline support (17/24 Jan/4 Mar lows). Deteriorating daily studies suggest more downside. The break below the 200 day MA support signals a deeper setback towards the key 1.564% (6 Dec 2012 low)/1.541% (4 Sep 2012 low) support zone. Further weakness below would there would expose the record low at 1.378% (25 Jul 2012) for a retest. It would take recycled strength back above the 200 day MA then 1.889% (1 Apr high) to stabilize for a move towards 1.976% (25 Mar high).
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