US 20Y yield

Yields Surging / TLT Falling

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The technical weekly uptrend that yields have formed is rather astonishing.

The sheer power of this move suggests likely more upside yields. Some basic measured moves suggest a potential whopping 5.7% on the 20 year.

Imagine TLT long bond traders!

Nothing is probable but it makes you wonder if inflation is becoming more entrenched since the bond market is very forward looking.

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