Rates are falling sharply for the last few weeks and one of the reasons why US yields can stay down is because FED is concerned about the economic activity due to trade wars, os there is a chance that Powell will lower rates this year, to stabilize the economy as well as stock market which is also still in risk-off and holds positive move with US yeilds. This can be even seen as a recession fear, while gold and JPY are in a recovery mode
From an Elliott wave perspective the price of 10Y US Yield chart is coming lower after an irregular flat correction in wave B, so wave C can be now in progress, especially if we get a lower degree five-wave drop from 4.8%, which can keep USdollar Index – DXY under bearish pressure.
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