Watch for bids to come in the 10 year treasury - #bonds

As we mentioned yesterday, there was a good chance that the bond market would likely pull back to the 127.70 level. We undershot that level by a few points but have now settle back into the support. With the current environment looking uncertain, we feel that bonds will likely continue to trend higher and therefore upside resistance at 129 and 129.7 continues to be our target area.