The 10-year T-Note yield has broken down below the 2.50%-3% range that has been prevailing for one year. Note important support at current levels (2.30%-2.40%) stemming from 2012 highs. If the current downmove continues, 2.10% would be the next target. Risk is a move back inside the 2.50%-3% range, which would correspond to lower T-Note prices. The weekly trend for yields is down (ie bullish for Notes).
Chart courtesy of StockCharts.com. http://stockcharts.com
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