It seems that regardless of economic data points that show better-than-expected economic performance and confidence, bond investors remain worried about, well, who knows?
The ProShares UltraShort 20+ Year Treasury (NYSE:TBT) remains tenuously positioned at critical 7-week support, fighting for its technical "life," despite positive economic headlines and a roaring stock market.
My sense is that TBT is warning us that something is not quite right with the supposedly strong -- and expanding -- US economy, and/or that Trump's aggressive-growth agenda is going to be difficult to implement.
In any case, on the eve of Trump's important speech before Congress, TBT is tiptoeing on support at 36.70/50, which if violated, will trigger downside projections into the 37-36 target zone.
