US 10Y TREASURY: yields have peaked
The final breakthrough for the US Treasury yields was the latest FOMC meeting where the Fed decided not to increase further interest rates. Although, they are leaving the possibility for further hikes in case that inflation remains persistent, still, the market perceived it as the end of the Fed's rate hikes.
At the beginning of the week, the 10Y US Treasuries tried for one more time to test the 5.0% level, reaching only 4.92%. There was clearly no market strength to push the yields further to the upside. After the Fed's meeting, yields dropped to the level of 4.6%, while after the Friday`s jobs data, yields ended the week at the level of 4.57%. There is still space for yields to relax and move to the downside. Actually the level which is currently pending testing is 4.4%, which might be tested during the week ahead. Further supporting level stands at 4.0%, but currently there is no clear indication on charts that it might be tested in the week ahead. Evidently, the yields started their reversal path, and they will certainly not return back to the previous levels around 5.0%.
At the beginning of the week, the 10Y US Treasuries tried for one more time to test the 5.0% level, reaching only 4.92%. There was clearly no market strength to push the yields further to the upside. After the Fed's meeting, yields dropped to the level of 4.6%, while after the Friday`s jobs data, yields ended the week at the level of 4.57%. There is still space for yields to relax and move to the downside. Actually the level which is currently pending testing is 4.4%, which might be tested during the week ahead. Further supporting level stands at 4.0%, but currently there is no clear indication on charts that it might be tested in the week ahead. Evidently, the yields started their reversal path, and they will certainly not return back to the previous levels around 5.0%.
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