The 20+ Year Treasury ETF (TLT) bounced off support last week, but fell today as the ISM Manufacturing Survey surged to 55.7. Readings above 50 favor economic expansion. Bonds fell and the 10-Year Treasury Yield ($TNX) rose with this positive economic news. Signs of strength in the economy increase the chances that the Fed will raise interest rates in the future.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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