Yes. A promise is a debt so am paying mine.
Above is the long term chart of 91 DAY treasury bills rate (weekly average).
From the 27.204 top to 0.783 low, the rates traced out a clear corrective wave consisting of wave A, then a triangle and then wave C.
Wave C = 0.628% of wave A.
0.628 is just a few from the Golden Ratio 0.618%.
The move from the 0.783 low to 20.799 high is one of two alternatives. It's either a developing impulse wave consisting of waves (i) (ii) i ii. OR it is a simple zigzag pattern. It will take probably a decade for either option to become clear.
Fortunately, we don't have to wait years to make a prediction of rates in the short term since waves are fractal in nature.
The drop from 20.799 to 5.11 low is also in three waves. Below is the blow up..
The rise from 5.11 to 10.498 is impulse and that is the key. Impulse waves determine the direction of the trend.
So after the impulse we have a three wave (zigzag) move back to 8.756.
CONCLUSION:
91 DAY treasury bill rates are expected to continue rising. This is also in line with deflationary pressures affecting the global markets.
When treasury rates rise, the prices fall.
Quote:Conventional analysts who have not studied the Great Depression or who expect bonds to move 'contra-cyclically' to stocks are going to be shocked to see their bonds plummeting in value right along with the stock market. Ironically, economists will see the first wave down in bonds (and first wave up in rates) as a sign of inflation and recovery, when in fact, it will be the opposite.
Conquer The Crash, Pg 145.Quote:As debt prices fall, yields rise. If you are in long term bonds, you're stuck with only the 'falling prices' part of the equation. It's better to own short term instruments, which can keep rolling over at ever-higher yields to compensate substantially for price losses. So, generally speaking, for safety, it is better to own high-quality short-term debt than long-term debt.
Conquer The crash, Pg 150.
Best to all.