The index has traded chiefly sideways since it broke the smaller, inner-rising wedge pattern. However, it’s now on the verge of breaking the larger, outer rising wedge pattern, which also forms the lower trend line of the bump-and-run pattern. Regarding this rising wedge, it would only take a gap down at the open to confirm a break.rose by four basis points on the day, reaching 4.3%. This area is significant for rates, as a push above the 4.
If rates continue to rise, this will impact financial conditions. Mortgage rates have been increasing, and the spread between conventional and jumbo rates has narrowed significantly over the past couple of weeks. Over the past few years, this spread has closely tracked the CDX high-yield credit spread index, which the S&P 500 earnings yield also closely follows.prices refuse to break below $66.
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