I use TLT and USD as my proxies to track the Bond cycle. Based on Time and the recent price action, it sure looks to me like Bonds have found their Yearly Cycle Low (and very likely, the 3 year cycle low as well ~ see my last chart).
Longer term, however, my expectations are that the longer term 30 year uptrend in Bond prices since 1984/85 has topped. To that end, I am expecting a lower high in the months ahead (i.e. the next 3 to 8 months). Interest rates have been declining for 30+ years now and with ZIRP, they really can’t go much lower.
There is also the open question on if the market has priced in the proper risk with respect to bonds. After all bond risk is what Martin Armstrong’s Sovereign Debt Crisis is all about.
All my Bond posts: