Flash: US treasuries fail at bearish trendlines – RBS

FXstreet.com (New York) - Treasury yields have backed up in earlier sessions on growing signs of improving economic performance in Europe, the UK and elsewhere, suggests the RBS Research Team.

Key quotes

“Intermediate Treasuries have rallied back to, and so far failed at, bear trendlines that have been in place since early May.”

“Meanwhile, daily momentum studies in most Treasury benchmarks are now overbought. Tactically-minded investors should be flat here while awaiting better trade location.”

“Treasury buyers should wait for bear trendlines to give way and/or for weekly momentum to cross bullishly on a Friday close.”