Charts of the Week: Breadth Breaks Down, Yields Overheat, & Fixed Income Sinks to the Bottom
For wealth professionals who follow technical breadth and asset-class scorecards, the episode offers a compact review of participation, yield momentum and fixed income positioning as of the recording.
Summary
By the bonds & fixed income deskThis episode of the Nasdaq Dorsey Wright podcast reviews the week's chart signals, including broad equity weakness and NYSE participation indicators rolling over. It discusses the long-term NYSE bullish percent sitting at the 50% line and the 10-year Treasury yield breaking above 5%, a 19-year high, with an overextended OBOS reading ahead of the Fed meeting. It also notes fixed income scoring last among asset class group scores and nearing a cross below cash for the first time since 2023.
- NYSE participation indicators moved lower, with the long-term bullish percent at the critical 50% line.
- The 10-year Treasury yield broke above 5%, described as a 19-year high, with an overextended OBOS reading ahead of the Fed meeting.
- Fixed income ranked last on asset class group scores and was near crossing below cash for the first time since 2023.
- Equities were broadly negative for the week, while commodities rose slightly.
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