Friday, 5 July 2013

As I said on Wednesday...

... here:

You can see that after a precipitous drop in May and June, for the past week or so, the price has been rising steadily but the daily range is getting narrower and narrower.

The theory is that sooner or later, prices will resume their merry downward fall - which is another way of saying that interest rates will go up, which is good news for people like me.

Today, the US T-bond future resumed its merry downward fall, down a fairly spectacular 3 points on the day. Chart from here: