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    US 10 Yr Note yields peaked when this index reached extreme euphoria levels above '50' to end 2013. Since 2003 the index has always promptly fallen back to '0' after dropping from over 60 to below 20. This suggests yields have further room to fall as their 50-day changes are moderately positively correlated to the index.

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    US 10 Yr Note yields peaked when this index reached extreme euphoria levels above '50' to end 2013. Since 2003 the index has always promptly fallen back to '0' after dropping from over 60 to below 20. This suggests yields have further room to fall as their 50-day changes are moderately positively correlated to the index.

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    10 views1 page

    Untitled

    Uploaded by

    api-245850635
    US 10 Yr Note yields peaked when this index reached extreme euphoria levels above '50' to end 2013. Since 2003 the index has always promptly fallen back to '0' after dropping from over 60 to below 20. This suggests yields have further room to fall as their 50-day changes are moderately positively correlated to the index.

    Copyright:

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    The U.S. Citigroup Economic Surprise Index (CESIUSD) has dropped from its recent high of 72.7 to 19.

    7 on Friday. US 10 Yr Note yields peaked when this index reached extreme euphoria levels above '50' to end 2013. Since 2003 the index has always promptly fallen back to '0' after dropping from over 60 to below 20 (see attached chart). This suggests yields have furtherroomtofallastheir50daychangesaremoderatelypositivelycorrelatedtotheindex.

    We maintain a bullish bias unless Wkly Support (2.784/2.805), which has held 7 consecutive weeks, gives way. A retest of QtrlyResistance(2.592/2.654)maybeinthecardsandwouldpresentamajorhurdleforfurtherbullishmomentum.

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