The 2.2% to 2.1% area has marked major lows in the long end(30 Year Treasury Yield).

The 30 yr. yield has collapsed in August. At today’s low the TYX is at 2.15%. This area has produced major lows since the Fed’s tightening cycle began in the 4th quarter of 2015.

The TLT has gone vertical in August.

The TLT(iShares Barclays 20+ Year Treasury Bond Fund) is working on its best weekly gain in years. This powerful move has pushed the index into extremely overbought territory(daily MACD).

Another great chart from Charlie Bilello.

Long-term Treasury bonds at most overbought levels since 2008.

Hat tip Charlie Bilello/Pension Partners