U.S. T- Bill Yield 91-Day (3.38 percent)

In my June 8th comment (3.04 percent), I said we were losing steam quickly and I asked whether or not we might see a top by the time we reached 3.25 percent. The answer turned out to be a resounding NO.

Now we are approaching technical resistance in the 3.5 percent area, and my math models still indicate that we are overbought. I'm looking for a top here, but suitably respectful of the strength of the underlying upward thrust.