leave your reason at the door - monday, page-20

US 10 YR daily and you can see it seems to be forming a right shoulder or what appear to be an inverse head and shoulders pattern. You can see what happened after Ben mentioned the word 'taper' for the first itme back in May-ish. Now on Friday he said there is still a lot of slack in the labour market. Inverse head and shoulders are more reliable after a nice fall as occurred here; contrast the one that appeared in the SPX intraday off the high which failed last Thursday. From this, I'd sit on the side of the fence with those of the view that US rates aren't headed much higher in the medium term, not to say there won't be flare ups in the short term.