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Bond Traders Finally Broke 2017's Range

JPMorgan says 10-year Treasury yield needs to breach 2.15% to sustain rally.

The world’s biggest bond market may have finally broken out of its tight 2017 trading range, but it’s not exactly drawing a clear roadmap for traders of the moves ahead.

Rather than gaining more insight into the plight of the global reflation bet, traders were left reacting to geopolitical risks from North Korea to Russia (not to mention a huge bomb dropped in Afghanistan just before holiday-shortened trading ended). They also heard President Donald Trump jawboning the dollar lower and declaring he likes low interest rates now that he’s in the Oval Office. Those factors seem unlikely to disappear in the weeks ahead.

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