The LIFFE Long Gilt, which is the UK’s equivalent of the US 10-Year Treasury Note and is positively correlated to it, reached our 122-00 initial upside target earlier this week, which was first mentioned in our January 11th Keys To This Week, to capture a 3.41 point, 3% advance in a little less than one month.
Here is the chart from our January 11th report.
Here is the current chart which was updated this morning (February 12th).
Per the aforementioned correlation, during the same period the iShares 20+ Year Treasury Bond Fund (TLT) rose by 10.83 points or 9% while the yield of the benchmark US 10-Year Treasury Note declined by 46 basis points to 1.71%.