U.S. 10-Year Treasury Yield Shows Rising Risk of Deeper Pullback, Chart Shows
Dow Jones10-16
0553 GMT - The U.S. 10-year Treasury yield shows a rising risk of a deeper pullback on the weekly chart, says Quek Ser Leang of UOB Global Economics & Markets Research in a note. Last week's pullback has continued and is gathering momentum this week, the senior technical strategist notes. Although this week has yet to conclude, the 10-year yield is on course for its largest weekly drop since late July. Also, the weekly relative strength index is unwinding swiftly from overbought levels. A break below 5.021% could lead to a fall toward the 21-week exponential moving average, which is now near 4.81%, the strategist adds. The U.S. 10-year Treasury yield is little changed at 5.0863%, FactSet data show.
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