Dec. 27 at 4:47 PM
Across fixed income, momentum stayed broad and constructive as every ETF in the universe held above zero.
$EMB led with 3-month momentum at 3.0%, while
$JNK followed as a top-quartile gainer at 1.5%.
On the flip side,
$TLT and
$TIP both flipped positive from negative territory, with
$TLT’s week-over-week momentum improving by 0.3 pts.
Breakouts outnumbered breakdowns, with
$JNK and
$VGIT breaking out and only
$TLT registering a breakdown, all against a backdrop of low average volatility.
With all 10 ETFs holding positive momentum and no high-risk signals, the trend suggests fixed income is in a stable, broad-based advance.
Watching
$TLT: if it remains a breakdown and fails to build on its positive momentum flip, then downside risk could reemerge; otherwise, a sustained recovery may support further breadth.
