Bond market retesting lows from last week - #bonds

The bond market has been struggling to rally on risk off bids and any highs in the bond price is an opportunity for bond traders to short the price back down in expectation of higher inflation and rate hikes coming in March. We can see on the chart the amount of sell pressure anytime the price gets bid up is extortionary. With that being said, we feel that with the current environment being as is, the lows set from last week should hold. Therefore we are anticipating some sideways ranging action in the bond market for now with the support at 126 handle expecting to hold. If the market bounces from that level, we will be eyeing resistance around 126.55, 127.05 or 127.75 area.