Despite Powell’s BS, the bond market is calling bullshit. Take a look at a 6 month chart of TLT. It surged last week on the FED pause. It then pulled back to fill the gap. It went higher again yesterday making a higher high with a new gap. That gap is being filled today. So while in a fairly tight consolidation trading range it is finding resistance at the 200 day around 103.20 and support at the 50 day around 102.20. I am not looking for a big move just yet. The main point is it is making higher highs and higher lows and coiling for a move higher in bond prices and lower yields. It could come as a slow crawl or something more dramatic. The point is the FED is done and rates are NOT going higher.