How Much Higher Can T-Bond Prices Go Here?

Core Viewpoint - June U.S. Treasury bond futures are showing a bullish trend, indicating a potential buying opportunity as prices are expected to rise further [1][2]. Technical Analysis - The daily bar chart for June U.S. Treasury bond futures indicates that prices are trending higher, with the MACD indicator in a bullish posture, suggesting that bulls have a near-term technical advantage [1]. - A breakout above the chart resistance level at 117 16/32 would signal a buying opportunity, with an upside price objective of 121 16/32 or higher. Technical support is identified at 116 even, where protective sell stops should be placed [3]. Market Fundamentals - The market is currently pricing in two U.S. interest rate cuts this year, which is a bullish scenario for U.S. Treasury prices. Additionally, ongoing geopolitical uncertainties are driving a "flight to quality" towards U.S. Treasuries, regarded as the safest asset during uncertain times [2].