Bumpy Road Back to Lower Rates
Abstract
Wednesday's rally offered hope after the BOE stepped in with emergency bond buying. Yields were flat to slightly higher in Asia, but then sharply higher after record inflation readings in Germany's biggest region. The first of these is only in its early stages of becoming visible, but for the first time in a long time, stochastics are starting to inch below oversold territory. The pivot point of 3.714-ish is also emerging as a relevant line. The yellow line would still be a good target to signify a shift. For those not on MBSLive.net.net, it's inventor.com, it is still a goodtarget to signify the shift.