USM12 – June T-Bond (Last:143^12)

June T-Bond (USM12) price chart with targetsYesterday’s thrust tore through a 142^21 midpoint resistance with such ferocity that further progress to the ‘D’ target associated with that number, 144^06, is all but a foregone conclusion. With yields on the 30-year now at 3.06%, one more strong push is going to send them below the magical 3% barrier.  Who needs QE3 when the demand for U.S. debt is insatiable?  Please note that we’ll be using the weekly chart to project targets above 144^06 and that the next would lie at exactly 146^04.