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Is this the beginning of the end?

The 30 yr. U.S Treasury bond, which I am short, just broke key technical support today/tonight.  As you can see from this weekly chart of the T-Bond futures, we are now breaking levels that have held for over a year.  Let the stampede begin.  Of course rising rates in the long term will kill the equity and real estate markets but for now, the bond market is feeling the brunt of the pain.  In the short term, we’ll see some real damage to bonds  if this really does break here.

 

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