The $IEF(iShares Barclays 7-10 Year Treasury Bond Fund)is reaching new November lows today. Ahead of this afternoon’s Federal Reserve’s November policy statement this index appears to be on the verge of a fresh down leg. A close below the October lows($99.60)could open up the downside. Not far below is the 2014 and 2013 lows. Below $98.50 there is very little support.
It’s also been a big week for the 3-Year U.S. Treasury Bond Yield. It’s currently trading above 3%, its highest level since 2008.
Hat tip Charlie Bilello