US 10-Year Treasury Yields have pulled back after forming a lower peak near 4.09% earlier this month. The decline is set to continue towards 3.07%, economists at Société Générale report.
Correction towards 3.07%?
“An initial bounce is not ruled out, however, last week's high of 3.65%/3.70% should provide resistance.”
“Daily MACD has entered negative territory denoting possibility of potential downside.”
“Holding below 3.65%/3.70%, ongoing down move is expected to persist towards the lower limit of a multi-month channel at 3.17% and projections of 3.07%/3.02%.”
See – US 10-year Yield: Any break below 3% should prove short-lived – ING
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