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10-year Treasury yields approaching a key technical crossroads
US 10-year yields are actually down over 10 bps on the day to 1.42% and that’s bringing issues nearer to a key technical area round 1.415%.
The November low and the 100-day shifting common (purple line) resides on the stage so a break beneath that might see yields tumble additional amid the risk-off sentiment available in the market.
Danger sentiment is not sitting too fairly on the day because the flight to security continues and bonds are staying extra bid in European morning commerce. Regional indices are down between 1.5% to 2.0% whereas S&P 500 futures are additionally down 1.1% for the time being.
Within the larger image, it looks as if bond sellers are nonetheless unable to capitalise on the supposed head-and-shoulders sample. Discuss concerning the omicron headlines being handy for bond consumers in defending in opposition to that technical problem.
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