Eyes on US 10-year yields, where next? - BBH

Analysts at Brown Brothers Harriman noted that the US 10-year yield has been in a 2.10%-2.40% range since the end of Q1.  

Key Quotes:

"Most recently the range seems to be 2.20%-2.35%.  Yields fell February through May and rose 10 bp in June. The generic 10-year yield rose nearly six basis points last week, which leaves the yield about a basis point lower than the level at the end of June. That means the last session of the month will likely determine the net result for the month. 

The technical condition of the September 10-year note futures contract is not particularly strong, though additional gains in the first part of next week are possible. The recent high was near 126-12.  The Slow Stochastics have turned lower, and the MACDs are about to cross, suggesting some caution may be advised."