US 10Y Bond Yields could move below 3.00% – Credit Suisse
|With a larger yield top now threatening in the US 10-year Bond Yield, economists at Credit Suisse downgrade their tactical objective further to 3.045/00%.
10yr US Bond Yields to confirm a large top on a break below 3.56%
“10yr US Bond Yields need to break below 3.56% to confirm a larger top. Of course, Nonfarm Payrolls data represents a key event risk, however, short-term momentum continues to accelerate to the downside, suggesting a break is more likely than not.”
“Even if yields were to rebound from current levels on an upside NFP surprise, the completion of a larger top would still be our base case, as long as the market holds below support at 4.00/03%.”
“Assuming the top is confirmed, the potential ‘measured top objective’ suggests a move below 3.00% is possible, however, the rising 200-Day Average at 3.045% should provide a formidable barrier beforehand.”
See – US NFP Preview: Forecasts from 10 major banks, less strong, but not weak
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.