Flash: US treasury buyers should wait for bullish crossover – RBS

FXstreet.com (New York) - Intermediate Treasuries have rallied back to, and so far failed at, bear trendlines that have been in place since early May, notes the RBS research team.

Key quotes

“Meanwhile, daily momentum studies in most Treasury benchmarks are now overbought.”

“Tactically-minded investors should be flat here while awaiting better trade location. Treasury buyers should wait for bear trendlines to give way and/or for weekly momentum to cross bullishly on a Friday close.”