The turning point in the bond market in October last year arguably came after the Treasury quarterly refunding announcement. And are we seeing a similar moment for Treasuries again after the estimate announced here yesterday? 10-year yields were up at around 4.16% at the end of last week but have now fallen by some 12 bps this week.Perhaps more importantly, we are seeing yields fall under its 200-day moving average (green line) at 4.089%.That is a key technical level that is being breached this week, after the highs this month stalled at around 4.19%. In other words, bond buyers are seizing back control and a break under 4% will solidify that even further.That being said, bond sellers are no
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