U.S. T-Bill Yield 91-Day (4.93)

The T-Bill Yield has now poked its nose below the 100-Day Moving Average after touching 5 percent earlier in the year. We are looking at persistent short term momentum erosion which is not surprising in view of the recent attempt to push through the 5 percent barrier. Beyond the near term, there is nothing to indicate a reversal of the trend to higher rates, but short term resistance at 5 percent has turned out to be very real.