|

US 10-year Treasury yields rise for sixth consecutive day while teasing 11-month top

  • US 10-year bond yields stay firmer around the March 2020 peak.
  • American stimulus hopes propel the bulls despite US-Iran tension, mixed news at covid and vaccine fronts.
  • A light calendar in Asia, thin news feeds keep the previous risk-on mood intact.

While portraying market optimism, US bond yields remain on the front foot during the early Monday. This could be well witnessed in the US 10-year Treasury yields that probe March 2020 top and marks a six-day winning streak.

Following US Senators’ push to the key aid package, comments from US Treasury Secretary Janet Yellen and President Joe Biden began the week on a firmer note. The mood got extra help after the Washington Post suggests a $3,000 per child benefit.

The bond yields refreshed multi-day high on Friday after US Democratic Party members managed to push President Biden’s $1.9 covid relief package through the Senate. The much-awaited stimulus proposal returns to Congress for further details.

Also favoring mood could be US President Biden’s push to open the schools in a safe way as well as the reduction in China’s coronavirus (COVID-19) numbers to zero for the first time in 2021.

Alternatively, US rejection to take back Iran sanctions and Tehran’s signals to go ahead with their arms embargo if Washington doesn’t return to the 2015 agreement challenge the sentiment. It should be noted that the second case of the virus in Melbourne challenges the authorities while the UK-EU tension also offers background music to the risks. Furthermore, a study, conveyed by the Financial Times (FT), showing Oxford-AstraZeneca vaccine’s inability to tame the South-African variant of the COVID-19 exert additional pressure on the risks.

Not only the US bond yields but the S&P 500 Futures and stocks in Asia-Pacific also favor the bulls amid a lack of major catalysts and light news feed.

Read: S&P 500 Futures refresh record top near 3,900 as US stimulus hopes favor risks amid quiet session

Moving on, traders will keep their eyes on US stimulus news and vaccine developments for fresh impulse.

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD gathers recovery momentum, trades near 1.1750

Following the correction seen in the second half of the previous week, EUR/USD gathers bullish momentum and trades in positive territory near 1.1750. The US Dollar (USD) struggles to attract buyers and supports the pair as investors await Tuesday's GDP data ahead of the Christmas holiday. 

GBP/USD knocks ten-week highs ahead of holiday slowdown

GBP/USD found room on the high side on Monday, kicking off a holiday-shortened trading week with a fresh spat of Greenback weakness, bolstering the Pound Sterling into its highest bids in ten weeks. Pound traders are largely brushing off the latest interest rate cut from the Bank of England as the UK’s central bank policy strategy leaves the water murky for rate-cut watchers.

Gold buying remains unabated; fresh all-time peak and counting

Gold builds on the previous day's blowout rally through the $4,400 mark and continues scaling new record highs through the Asian session on Tuesday. Bets for more interest rate cuts by the US Fed, renewed US Dollar selling bias, and rising geopolitical uncertainties turn out to be key factors driving flows towards the bullion. Traders now look to the delayed release of the revised US Q3 GDP print and US Durable Goods Orders for a fresh impetus.

ETHZilla sells over 24,000 ETH, community reacts to shift away from DAT strategy

Peter Thiel-backed ETHZilla announced it sold 24,291 ETH for ~$74.5 million to redeem outstanding senior secured convertible notes. "We plan to use all, or a significant portion, of the proceeds to fund the redemption," ETHZilla noted in a Monday X post.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.