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Ten-year Bond yields slump in the US

FXStreet (Mumbai) - The ten-year bond yields in the major economies have taken a hit today on back-to-back disappointing developments.

Bond prices got a boost earlier today after the weak German industrial production data shocked the markets. Meanwhile, the ten-year treasury yields have declined to 2.395, down from a high of 2.43 hit earlier today. Treasury yields took a hit after the International Monetary Fund (IMF) revised lower its 2014 global growth forecast to 3.3%. “The pace of global recovery has disappointed in recent years”, the IMF said, noting that since 2010 it had been consistently forced to revise down its forecasts.

However, the yields may not slump much as the IMF still expects the US Federal Reserve and the Bank of England to raise interest rates in mid-2015. Meanwhile, the UK ten-year bond yield is down by 2.16% to 2.306 despite the IMF raising the UK GDP forecast to 3.2% in 2014 – up 0.3 points from the April.

US Ten-year treasury technical levels

Yield has a support of 2.38, under which it can fall to 2.33. On the upside, 2.43 and 2.45 stand as a strong resistance levels.

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