Scatterplot of US10Y 2016 weekly till today correlated with weekly's close price:
Friday, October 8, 2021
10-year Treasury yields importance today
10-year yields adds another 2 bps today to 1.59% and close to cross the 1.60% mark a technical area of last month breakout. My point of view is that bond sellers will go after profit taking, distribution and a mark-down activity. All that depends a lot on what the US nonfarm payrolls release will be later today.
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