Swing lows going back to Mid-February have been taken out
As stocks take another run lower, the 10 year note is the beneficiary.
The yield has fallen below the 2.80% area. There are a number of swing lows centered around that level (down about 2.79%). The current yield is at 2.782%. The low reached 2.7753%.
Also helping to put a lid on the 10 year has been falls in the European 10 year yields. The German 10 year moved down to 0.5%. The fact the US yield is at 2.80% and the German yield is down at 0.50% is hard to ignore.
What also cannot be ignored is the break of the floor.