Bullish US 10yr yields

BofA Merrill Lynch notes ....

• We remain bullish US Treasuries from the 5yr point and out. Looking specifically at 10yr yields, the near complete impulsive decline from the 2.259% high points to further yield weakness in the sessions & weeks ahead. 
  
  
• 1.840% should be only a temporary stopping point ahead of a push towards Jan-20 low at 1.636%. Bounces should be faded and limited to 2.040%/2.047%. 
  
  
• Above 2.148% invalidates the bullish setup and returns favor to the bears (we do not expect this.).