30-Year UST Bond targets 117.50

Everybody awaits hints of rising rates and a bond market selloff ahead of the end of QE2.

Technicall the 30-Year UST Bond is below the pivotal 120 mark and indicators point to a further decline which is in line with the fundamental expectations of rising yields.

Stochastics entered into Oversold territory, however BBands and charts points to immediate targets around 117.50-118 before a bounce could be expected.