US10YY : In Full House at 2.04%

• Increased long TYZ1 to full limit on sell off to 2.04% (paid 129-14 earlier this evening). Average in rate on the full position now is 129-20.
• 2.04% = previously very significant yield support, recently broken and now offering overhead yield resistance.
• On monthly chart, triangle breakout on downside, suggesting impossibly low yields ahead. Measured technical objectives will sound crazy to most. Which is the way I like it. The fewer believers, the better.