17 Dec 2014
US 10-yr Treasury yield trades above 5-DMA
FXStreet (Mumbai) - The 10-year Treasury yield in the US continues to inch higher throughout the European session, to trade above the 5-DMA located at 2.088%.
The yield currently trades 3 basis points higher for the day at 2.101%, compared to the previous session’s close of 2.061%. Moreover, the yields are inching higher as markets expect the Federal Reserve (Fed) to drop the “considerable time” phrase in its policy statement today, a move considered by many as an indication of the end of the Zero Interest Rate Policy adopted by major central bankers since the crash of 2008.
Meanwhile, the 2-yr yield, a barometer of short-term interest rate expectations, has shot up 2.1 basis points to trade at 0.581%.
10-yr Treasury yield Technical Levels
The immediate resistance is seen at 2.136%, above which gains could be extended to 2.15%. Meanwhile, support is seen at 2.088% (5-DMA), under which 2.047% level could be tested.
The yield currently trades 3 basis points higher for the day at 2.101%, compared to the previous session’s close of 2.061%. Moreover, the yields are inching higher as markets expect the Federal Reserve (Fed) to drop the “considerable time” phrase in its policy statement today, a move considered by many as an indication of the end of the Zero Interest Rate Policy adopted by major central bankers since the crash of 2008.
Meanwhile, the 2-yr yield, a barometer of short-term interest rate expectations, has shot up 2.1 basis points to trade at 0.581%.
10-yr Treasury yield Technical Levels
The immediate resistance is seen at 2.136%, above which gains could be extended to 2.15%. Meanwhile, support is seen at 2.088% (5-DMA), under which 2.047% level could be tested.