The U.S. Treasury bond and Treasury note futures are in fledgling downtrends on their daily bar charts and the bears have some momentum on their side. Right now, it’s still my bias that these fledgling downtrends are just downside corrections from recent gains that pushed prices to contract highs in March. However, more strong selling pressure in the near term would suggest a market top is in place and that prices would continue to trend down in the coming weeks. This week’s price action in the U.S. bond markets will be extra important. Stay tuned!