Bonds broke down below a key support level yesterday and continued down strongly today.  It's been down 3 days in a row and is due for a bounce.  However, any bounce is  a short. Even a bounce to the 15 min or 30 min 20 period EMA is a short.  If you're aggressive you may want to short a small position immediately and hold for a longer term play - just realize that there is a chance you'll have to take some heat before you see continued downside.  If this trade is on the money then the recent highs above 140 should never be taken out again.  The daily chart with broken support level shown below.