Treasuries maintain a firm tone and have traded to a fresh cycle high today. This reinforces the current bull theme, marking an extension of the uptrend that started on Jan 20. The contract has breached 113-04, 76.4% of the Nov 25 - Jan 20 bear leg. This opens 113-11 next, the Dec 1 ‘25 high. Initial firm support to watch is 112-07, the 50-day EMA. A S/T pullback would be considered corrective and would unwind an overbought trend reading.
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