Global Fixed Income Technical Update

Research evidence excerpt

Global Fixed Income Technical Update

J P M O R G A N Global Markets Strategy

10 July 2026

Global Fixed Income Technical

Update

Sharp whipsaws obscure DM bond charts and make for

a low conviction near-term outlook within the current

trading ranges

Technical Strategy

Jason Hunter AC

(1-212) 270-0034

jason.x.hunter@jpmorgan.com

J.P. Morgan Securities LLC

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• The 2-year note continues to trade within our anticipated range for the early-

summer period, between 4.31-4.34% support and 3.985-4.025% resistance.

The market retains a bearish medium-term trend bias while cheaper than that

resistance zone, which includes the March 38.2% retracement and the late-

spring pattern breakdown.

• While the 30-year bond rejected the 4.80-4.82% favored resistance zone, it did

so without achieving overbought conditions or forming a tactical reversal

pattern. As a result, we’ve been left on the sidelines as the market cheapened

towards broader range support at 5.15-5.20%. Look for more range trading