David Fuller's view Suspecting that a downward break may be imminent, I increased my short in US 30-year Treasury Bond futures by a third today, selling another equal-sized unit of the decimalised March contract at 119.00, including spread-bet dealing costs. Here is a daily chart of the corresponding yield.

One note of caution on T-Bonds: Ben Bernanke certainly has the fire power to check this move, should he wish to, but I doubt that many others will be tempted to buck the new trend at this early stage.