Uneventful Trading Day Despite Technical Test

Uneventful Trading Day Despite Technical Test

For all that we've talked about the 4.32% technical level and considering yields hit the 3pm close at 4.338, one might expect today to have been important, interesting, or eventful.  In truth, it was none of those things as this magnitude of breakout is well within the margin of error typically applied to broad technical targets. Even then, what would a breakout really mean if we're still waiting for Wednesday's Fed events to confirm or reject a breakout?  In other words, Monday can't be anything other than a placeholder.