US treasury yield suffered another day of decline overnight. Five year yield closed down -0.010 at 2.806. 10 year yield also lost -0.015 to 2.938. The technical development affirmed our bearish view that FVX’s rebound from 2.571 has completed at 2.887. Immediate focus in on 55 day EMA at 2.779. Break there will bring deeper fall to 2.695 support next. Firm break there will confirm there the corrective pattern from 2.941 has started the third leg targeting 2.571 and below. Such development could limit Dollar’s strengthen.
