As for the markets, there obviously isn’t a heck of a lot to say on a holiday, but there was some Globex trading to watch. I am fixated on bonds, as is always the case, and there’s an important prospective breakdown looming at the red line shown below. The big “event” this week is the jobs report before the market opens on Friday, so perhaps by the end of the week, we will have busted this line.
If we do, that sets us on a course of a much more important, larger pattern, whose own support I’ve highlighted below. Plunging bonds and soaring interest rates is just what we need to see real estate prices reverse and global financial mayhem to have a fighting chance. I’m a fan.
