04-22-2024 Rattle Rates and Do "The Twist" 

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Come on, Jay Powell. Let's do the twist.

Come on, Yellen. Let's do the twist.

Data continue to confound the Fed and Treasury. Easy money and free-spending lead to the pain of persistent inflation. Now, tight money constraints growth and hastens deficits, so rates go around and around.

The key resistance in the 10-year yield remains at 4.71, 4.80, and 5.01. Alternatively, the supports are 4.49, 4.33, and 4.18.

Uncertainty and volatility remain elevated. The bulls need to close below 4.49 to gain momentum to attack 4.33. Otherwise, the bears retain control, but for bearish momentum to rise, 4.71 needs to fall.

Come on, rattle rates, And do the twist.

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Song: The Twist (1958) Chubby Checker cover 1960