From the Desk of Ian Culley @IanCulley
Failed breakouts and trading ranges dominate the charts.
It’s a mixed-up, messy market environment wherever you look — bonds, stocks, commodities, forex…
US treasuries are a prime example, playing it cool with muted volatility and tight credit spreads while yields climb.
Perhaps the near-term rise in rates makes it difficult to grasp, but the US benchmark yield is actually chopping within a broader corrective phase.