3 Apr 2015
10-year Treasury yield drops to eight-week low
FXStreet (Mumbai) - The 10-year yield in the US dropped to an eight-week low of 1.802% after the pace of job additions in the US economy slowed down significantly in March.
The non-farm payrolls report released today showed the economy added only 126K jobs, missing the estimate of 245K by a wide margin. The previous month’s figure of 295K was revised lower to 264K.
Consequently, the 10-year hit an eight week low. At the moment, the yield is trading at 1.824%, down 8 basis points for the day. The uptick in the average hourly earnings failed to provide any support to the yields.
Meanwhile, major index futures in the US weakened by 1%, which also weighed over Treasury yields.
10-year yield Technical Levels
The immediate support is seen at 1.759%, under which losses could be seen at 1.698%. On the other hand, a break above 1.865%, could see the yield re-test 1.953%.
The non-farm payrolls report released today showed the economy added only 126K jobs, missing the estimate of 245K by a wide margin. The previous month’s figure of 295K was revised lower to 264K.
Consequently, the 10-year hit an eight week low. At the moment, the yield is trading at 1.824%, down 8 basis points for the day. The uptick in the average hourly earnings failed to provide any support to the yields.
Meanwhile, major index futures in the US weakened by 1%, which also weighed over Treasury yields.
10-year yield Technical Levels
The immediate support is seen at 1.759%, under which losses could be seen at 1.698%. On the other hand, a break above 1.865%, could see the yield re-test 1.953%.