Failed High at 5.33%, Defense at 7,700: A Duration Bounce With Split Internals
The 30-year reversed off a 19-year high at 5.33% after Treasury doubled long-end buybacks, and the S&P is defending 7,700. The Nasdaq-100 is still red and chips are making lower lows — this is a duration bounce, not a repair of the leadership that printed last week's record.