Global Fixed Income Technical Update

研报英文原文证据摘录

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

• Voting in the 2026 Extel Global Fixed Income Research Survey is now

ongoing. We hope our work has been valuable to your investment process over

the last year and we humbly ask for your support in this year’s survey here.

• Within the Global Fixed Income Research Survey, please search for our

strategists’ names within the Voting Area search bar. Please vote 5 Stars for J.P.

Morgan where we are listed in the following categories: Asia (ex-Japan)—

Technical Analysis (Charting), Developed Europe: Economics & Strategy—

Technical Analysis (Charting), USA: Economics & Strategy— Technical

Analysis (Charting), USA: Economics & Strategy— US Rates Strategy, USA:

Economics & Strategy— Treasury Inflation Protected Strategy, and USA:

Economics & Strategy— Cross Asset Strategy. Thank you for your support.

• 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