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US two-year treasury yield slumps

FXStreet (Mumbai) - The two-year treasury yield has weakened to 0.504 ahead of the US Federal Reserve (Fed) minutes indicating bond traders may be pricing-in a dovish tone of the minutes

The two year note yield, a barometer of short-term interest rate expectations, has been weakening since the last month’s Fed meet. The yield has declined from a high of 0.597 hit on 18th Sep, 2014 to the current rate of 0.504.

In case the minutes come-in dovish, we could see the two-year note yield falling much further in days ahead.

Two-year note yield technical levels

The Yield has a support level of 0.496 (yesterday’s low) and 0.484 (low of 29th Aug, 2014). On the flip side, Yield can rally to 0.536 if the today’s high of 0.519 is taken out.

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