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US Ten-year Treasury yield hits 14-month low

FXStreet (Mumbai) - The US ten-year year treasury yields have extended their early morning fall after the release of a disappointing monthly retail sales number in the US.

The Treasury yields hit a low of 2.104%, breaching the mid- June 2013 low of 2.11%. The retail sales for September came in at -0.3%, well below the market expectation of -0.1%. The markets were looking for a reassurance in the form of a strong retail sales number. However the weak print is likely to increase the risk aversion in the financial markets.

Moreover, the disappointing number should bode well for the Treasury prices. The two year note yields, a barometer of short-term interest rate expectations, hit a low of 0.307%, a level not seen since the first week of March 2014. The action indicates that the bond markets are not factoring a delay in the interest rate hike.

Ten-year yield Technical level

The Yield has a major support of 2.087 (Mar 2013 high), while the immediate resistance is located at 2.17, above which the yields can re-test 2.20 levels.

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