Pretty amusing, what passes for “safety” these days, eh? It looks like the bullish frenzy will continue, since Friday’s surge speared what had appeared to be a daunting midpoint resistance on the daily chart at 124^31. The ‘D’ sibling target of that number lies  at 130^04, and although it’s difficult to imagine what manner of deranged thinking could conceivably push bonds, even in a Great Recession, to that level, the charts are telling us we should not be surprised if it happens.  For your information, the rally equates to an interest rate of about 2.86% on the 10-Year Note (see inset).