Market Sentiment is found in the 10 Year Treasury Note

2 Feb 2022The 10 year treasury note is on a technical descending bear wedge with a directing down trendline acting as a pivot point. As of now, we can see the treasury market breaking higher on the expectation of weaker NFP numbers, however, the treasury market is "smart money" and may often overlook short term data in favor at medium to long term fundamentals. Its going to be hard to predict which way this t-note will trade but keep an eye on the price action and that technical pattern. A breakout either way will cause a sentiment shift in the markets and have a spillover effect into other asset classes.