10-Year Treasury Yield Trendline Breakout Faces Next Test
The 10-year Treasury yield confirmed a breakout under a near-term rising trendline from March, opening the door to reversing the uptrend since then.
Rising concerns about a recession in the United States, also amid a general slowdown in global growth expectations, are pressuring bond yields lower.
Ahead, the 10-year rate is facing the May low at 2.705 where the 100-day Simple Moving Average is fast approaching. The latter could still reinstate the dominant upside focus.
Otherwise, more pain may be in store. Below is the 61.8% Fibonacci extension at 2.3667. Resuming the uptrend entails a push back above the current 2022 high at 3.497.
US10Y
Rising concerns about a recession in the United States, also amid a general slowdown in global growth expectations, are pressuring bond yields lower.
Ahead, the 10-year rate is facing the May low at 2.705 where the 100-day Simple Moving Average is fast approaching. The latter could still reinstate the dominant upside focus.
Otherwise, more pain may be in store. Below is the 61.8% Fibonacci extension at 2.3667. Resuming the uptrend entails a push back above the current 2022 high at 3.497.
US10Y
