TLT Roadmap Dec 2023

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Yields are likely in early stages of significant multi-month retrace lower into summer 2024
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Good start
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Early stage
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More pulling back ahead
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Should start turning up
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Very good price action following the expected path
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I made a mistake with the instrument here, instead of TLT should have used IEF as 10 yr yields will fall faster than 30 yr yields
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It is highly likely that this upswing starting Oct 2023 extends into Oct 2025. Obviously no straight line but some correction starting Aug into Oct 2024
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Entertaining to say the least
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Market participants are fully imposing the Trump trade across asset markets. This most likely will form a triangle (currently D wave forming to the downside) before new highs in yields/lows in bonds
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Bonds setting initial low on that decline likely this week
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JP was a bit hesitant yesterday which is incrementally hawkish (as was Logan). I was very confident that this will happen once DJT wins. More cuts will further destabilize yields
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Probably quick rally this week
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Market was already sniffing the appointment of Scott Bessent as Treasury Sec as an outspoken deficit hawk
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Should be heading higher into summer June/July. Bessent has massive debt to rollover

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