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Chart Of The Day: 10-Year Treasury Yield Going Up?
By Brian Kelly on October 13, 2009 | More Posts By Brian Kelly | Author's Website
While the US equity markets rallied, the US bond market did its best to tell us that economic growth was not going to be what the equity markets expected. Treasury futures held on to that belief as long as they could…until last Friday.
Whether the most recent move in Treasury futures is a correction or the beginning of a new downtrend will only be revealed with time. However, it does present a critical question for investors…
If US bond yields rise what does that mean for the dollar and ultimately US equities?
10 Year Treasury Yield
A quick technical look at the yield on 10 year Treasuries suggests the decline in rates since May may be a correction to the overall uptrend. Using a 100% extension of the Dec 08 - May 09 move we find that the first target for 10 year rates is 5.20%.
The immediate effect of rising rates will be strength in the dollar as investors seek yield.
Disclosure: none
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