Technical bear wedge on the Treasury Note

The 10 year T-Note is still experience more downside pressure as investors begin to price in the odds of 25 or 50 basis hike for the upcoming FED meeting in March. The technical bear wedge on the chart has continue to respect the recent down trend line while seller aim for the key 128.10 area. A break to the downside would see the next target at 127.75 or at 2% yield. If the market does a u-turn, keep an eye on that down trend line breakout for a move to the upside.