Taking a look at the June 10-year note this morning, we somewhat of a narrow range with an overnight high of 133-06 and a low of 132-275. Currently, the price sits at 133.05. Today’s market is clearly waiting on Chairman Powell’s speech at 11:05a.m. central where most traders believe that he will stay consistent and will reiterate that inflation is still subdued, and bond buying will continue. That has been the pattern of the last month every time he speaks. How the market has reacted after his speeches has been consistent as well. Yields will come down and prices will go up and then after the dust settles, the market doesn’t believe him and reverses after. So, traders should be aware and trade accordingly. Looking at technical’ s for 10-year June contract, I see resistance at 133-12-15 and support at 132-20. Since we are still in a downtrend, traders are advised to sell strength because the market is still in downtrend. Again, Powell speaks at 11:05 today so be aware.