Market Overview Analysis by Michael Kramer covering: S&P 500, US Dollar Index Futures, United States 10-Year, Utilities Select Sector SPDR® Fund. Read Michael Kramer's latest article on Investing.com
climbed to 4.69%, and the help to spread between the ten and the two widened to -42 bps, which is important.
Again, the 10-year is very close to breaking out to a new level because, after 4.68%, I don’t see much standing in the way of a run to 5%. There seem to be several combinations that could take the 10-year higher, and the bull flag also appears to be another one. However, it seems to be getting stretched, and this type of thing where it could snap the other way, too. So it is almost as if you have to take it day by day.
Today, we get the JOLTS data; if you remember, last month, the JOLTS data came in cooler than expected, and we got that big gamma squeeze higher, which took about a week or so to work off. So, something to be aware of tomorrow if the JOLTS comes in cool again and the market pops because I would think rates and the dollar would move down.data tends to be very unpredictable and also tends to be subject to big revisions.
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