Bonds tested relative highs with increased risk off sentiment due to Russia's attack on the Ukraine. However, after a day of stock selloff and safehaven inflows, we quickly retraced back to support at 126'11. The Kovach OBV barely budged off the rally to 127'08, where a red triangle on the KRI confirmed resistance. It has since bottomed out, confirming support at 126'11, but if we break down from here, then there is a vacuum zone down to lows at 125'17.