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Benchmark 10-Year Yield Gaps Down On Ukraine News

Benchmark 10-year YIELD has gapped down to 4.33% from yesterday's high at 4.49% (and 4.51% last Friday), owing largely to a flight-to-safety in reaction to the Ukrainian attack on Russian territory using US-made missiles. Let's notice that today's weakness also has violated the dominant September-November up trendlineat 4.39%, which now becomes initial resistance on any rebound in YIELD from this AM's low at 4.33%. If YIELD is unable to claw its way back above 4.40% on a closing basis today, it will remain vulnerable to additional technical weakness that points next to a breach of the up-sloping 20 DMA, now providing support at 4.33%... Last is 4.36%...