Back
11 Dec 2014
10-yr Treasury yield hovers near December lows ahead of US jobs data
The Treasury prices in the US gained, pushing the 10-yr yield near the current month low as investors await fresh cues from the US weekly jobs data.
The 10-yr yield in the US traded 1.2 basis points lower at 2.157% at the time of writing. The yields have weakened for the fourth consecutive session today, despite a surprisingly strong US jobs number released last week. Moreover, falling energy prices along with the risk aversion has boosted safe haven demand for the treasuries.
The benchmark yield may extend losses, if the labor department data shows a sharp rise in the initial jobless claims for last week. Markets are expecting the rise in initial claims to have slowed down to 295K, from the previous week’s figure of 297K. The treasuries may also take cues from the November’s advance retail sales figure due for release today.
10-yr yield Technical Levels
The yield has an immediate support located at 2.15% (Dec 1 low), under which losses could be extended to 2.122% (Oct 17 low). Meanwhile, resistance is seen at 2.199% and 2.227%.
The 10-yr yield in the US traded 1.2 basis points lower at 2.157% at the time of writing. The yields have weakened for the fourth consecutive session today, despite a surprisingly strong US jobs number released last week. Moreover, falling energy prices along with the risk aversion has boosted safe haven demand for the treasuries.
The benchmark yield may extend losses, if the labor department data shows a sharp rise in the initial jobless claims for last week. Markets are expecting the rise in initial claims to have slowed down to 295K, from the previous week’s figure of 297K. The treasuries may also take cues from the November’s advance retail sales figure due for release today.
10-yr yield Technical Levels
The yield has an immediate support located at 2.15% (Dec 1 low), under which losses could be extended to 2.122% (Oct 17 low). Meanwhile, resistance is seen at 2.199% and 2.227%.