On November 6, 2022 it was noted that weekly futures trading data calculations indicated the 10-Year note yield was peaking and in a structural position similar to where it was on November 6, 2018. The 10-Year note has slowly declined from 4.218 on November 7, 2022 to 3.373 on March 24, 2023. As of March 24, 2023 the 10Y-Yr note is in a similar position to where it was on November 16, 2018. Current weekly futures trading data calculations indicate the 10-Yr note yield is expected to conduct a decline similar to what occurred between November 2018 and September 2019. The 2022 to 2023 chart shown below provides a trend line of 18.25 degrees below the x-axis and overlays Engrbytrade™ markers based on comparable calculations from 2017. This indicates a steady decline below 1.5% is expected by the end of 2023.
Stock charts courtesy of StockCharts.com.
