Here we are tracking the soft floor coming in Yields once more. We have been in perfect sync with the previous legs down ahead of the Fed cut fact, now it is time once more to trade the expectation of another 25bp cut, this time in September with Trump and markets trying to force the Powell hand again.
The topside of the channel will attract a lot of buying interest for bonds which will cap the highs in Yields. Till then we have room for a tactical correction before September Fed.
Best of luck those looking to ride some profit taking after this massive move in Yields.