Testing The 10-Year

The yield on the 10-year US Treasury tested the low-end of our immediate-term TRADE risk range this morning and held above 1.83%. Where the 10-year goes from here is very important; yields bounced yesterday as US stocks traded lower and that trend is likely to continue if the US equity market begins to falter. Expect a big rally in bonds on Friday if the unemployment report comes in below expectations.

Testing The 10-Year - 10yr yield