Rate tests a lower trendline
The US 10 year yield is currently trading at 1.5791. That’s down 2.2 basis points on the day. The low reached 1.5774%.
Looking at the hourly chart above, the move to the low has the instrument testing its lower trendline. A move below would have traders targeting the 61.8% retracement of the May trading range near 1.568%.
The high yield reached 1.705% on May 13.