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16 Mar 2015
US 10-year Treasury yield extends decline
FXStreet (Mumbai) - The 10-year yield in the US extended weakness to hit an intraday low of 2.065% despite the uptick in the US equity futures.
The yield currently trades lower by 3.8 basis points at 2.072%. Meanwhile, the 2-year yield, a barometer of short-term interest rate expectations, fell almost 1 basis points to 0.645%. The yields have come under pressure despite a 1% gain seen in the DJIA index. The losses in the yields also contradict marginal gains seen in the German bond yields. Moreover, the Treasury yields largely tracked their German counterparts, which hit new record lows in the last week.
A weaker-than-expected US industrial production data for February, accompanied by the downward revision of January’s figures could have weighed over the Treasury yields.
US 10-year yield Technical Levels
The immediate resistance is seen at 2.107%, above which gains could be extended to 2.148%. On the flip side, a break below 2.042%, could see the yield re-test 2.00%.
The yield currently trades lower by 3.8 basis points at 2.072%. Meanwhile, the 2-year yield, a barometer of short-term interest rate expectations, fell almost 1 basis points to 0.645%. The yields have come under pressure despite a 1% gain seen in the DJIA index. The losses in the yields also contradict marginal gains seen in the German bond yields. Moreover, the Treasury yields largely tracked their German counterparts, which hit new record lows in the last week.
A weaker-than-expected US industrial production data for February, accompanied by the downward revision of January’s figures could have weighed over the Treasury yields.
US 10-year yield Technical Levels
The immediate resistance is seen at 2.107%, above which gains could be extended to 2.148%. On the flip side, a break below 2.042%, could see the yield re-test 2.00%.