US 10-Year Treasury Yields set to close break 7-week winning streak
|- US 10-Year Bond Yields are set to close the week lower, ending 7 weeks of rises.
- Yields reached a new 4-year high on the FOMC Meeting Minutes but retreated later on.
The US 10-Year Bond Yields are on course to close the week lower, at around 2.86%. The global benchmark that has been leading the US Dollar during long periods had reached a new 4-year high at around 2.96%. The FOMC Meeting Minutes had a relatively hawkish stance, focusing on high growth and growing chances of reaching the inflation goal.
Bond yields later dropped gradually. Concerns of a more aggressive path of monetary tightening were further eased after the release of the Monetary Policy Report by the Federal Reserve. The semi-annual document stressed the gradual nature of rate rises, refraining from indicating a change in the plan to raise rates three times in 2018.
The expected close at around 2.86% would be a slight drop in comparison to the previous week's close at 2.879%. Moreover, it would end a seven-week winning streak for yields that had been a feature of financial markets since the beginning of the year. Further falls in yields would imply additional drops in the US Dollar, yet other factors are also in play.
10-Year Yields technical levels
On the downside, 2.85% was the low on February 16th serves as the immediate line of support. It is followed by 2.81% a level that was seen on February 14th.
Looking up, 2.88% is the immediate level, followed by 2.91% seen earlier in the week and the fresh high of 2.96%.
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