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(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).
Long-term Treasury bonds at most overbought levels since 2008.
Hat tip Charlie Bilello/Pension Partners