US 10-Year Note Looks to Break Above Channel Resistance
US10Y…
-1.45%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
DX
-0.43%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
The big question everyone is asking today (and yesterday) is «Is the bottom in the bond market?»
US 10-Year Note-Daily Chart
So far, following the FOMC decision, the market seems to think so. And following the jobs report (Non-Farm Payroll number), we will probably have a good idea if the bounce is sustainable, or if we are about ready to resume the downtrend and yields back towards 5%.
Technically, we are reaching the channel that has kept the 10-year pressured since the spring of 2023. However, a break of the 50dma and channel resistance at 108’02 may be the trigger that actually squeezes the market much higher, sending yields falling at a rapid rate.
We’d expect that on a «weak» jobs report and the US Dollar to fall precipitously from here. However, we must keep in mind that the headline number has come in higher than expected 7 of the last 10 reports in 2023. So, a weak NFP report is not a given.
