18 Dec 2014
The 10-yr Treasury yield in the US rises above 2.2%
FXStreet (Mumbai) - The 10-yr yield Treasury in the US extended gains post an upbeat US weekly jobs data to trade above the 2.2% mark.
The 10-yr yield is now up 6.5 basis points at 2.215%, after having recovered from a low of 2.009% hit on Tuesday. Yields shot up after the Federal Reserve indicated possibility of a sooner-than-expected policy tightening in the US in case the economy continues to recover rapidly. Meanwhile, yields extended gains after the Initial Jobless claims slipped to 289K, a decrease of 6,000 from the previous week's revised level of 295K.
The yields may extend gain if the preliminary Markit US services PMI in December prints higher than the median estimate of 56.3.
10-yr Treasury yield Technical Levels
The immediate resistance is seen at 2.236% (Dec. 4 low), above which gains could be extended to 2.273% (Nov. 10 low). Meanwhile, support is seen at 2.15% (Dec. 1 low) and 2.10% respectively.
The 10-yr yield is now up 6.5 basis points at 2.215%, after having recovered from a low of 2.009% hit on Tuesday. Yields shot up after the Federal Reserve indicated possibility of a sooner-than-expected policy tightening in the US in case the economy continues to recover rapidly. Meanwhile, yields extended gains after the Initial Jobless claims slipped to 289K, a decrease of 6,000 from the previous week's revised level of 295K.
The yields may extend gain if the preliminary Markit US services PMI in December prints higher than the median estimate of 56.3.
10-yr Treasury yield Technical Levels
The immediate resistance is seen at 2.236% (Dec. 4 low), above which gains could be extended to 2.273% (Nov. 10 low). Meanwhile, support is seen at 2.15% (Dec. 1 low) and 2.10% respectively.