The Day Ahead: PM Edition 2022-05-11
The CPI number taking a toll
Bonds
Bonds extended the bounce today to come in contact with initial resist at 140^12 and the daily moving averages. This could be high enough for wave [IV] though the form will almost certainly become more complex. I’ve depicted a triangle on this chart but is only one option of many. Overall should expect several moves up and down in the range of 136^…
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