Bonds
Yields Pull Back, But Move Is Likely Corrective
United States 10-year yield is pulling back after testing twice the 3.5% area but the move to the D/S is unfolding in a corrective manner for now (descending channel). 3% is the closest support area (also a psychological level) but a move towards 2.8% before resuming the upside is likely. We know it seems far but 4% is a level we expect the market to eventually hit while remaining in this bull run.
US 10-Yr Yield Daily Chart
