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US Ten-year Treasury yields hover above 2%.

FXStreet (Mumbai) - The US ten-year treasury yields, which fell to their lowest level since May 2013 yesterday, are hovering above the 2% mark.

The ten-year yield is trading at 2.8%, after having hit a high of 2.118% earlier today. The yields had hit a low of 1.864 yesterday, after the US Equity markets tanked on concerns of global growth slowdown. Moreover, the disappointing US retail sales figure released yesterday aggravated the threat of a slowdown in the global economy. The sharp fall in yields indicates that many investors are now starting to bet that the Federal Reserve (Fed) would prefer to delay the first interest rate hike.

The yields may fall below 2% today, if the official data in the US show that the Industrial production in September weakened contrary to the market expectation of 0.4% growth. The data is due at 13:15 GMT.

Ten-year Yield Technical level

The yield has an immediate support of 2%, below which yields can re-test the yesterday’s low of 1.864. On the contrary, the yields may rise to 2.23% if the resistance level of 2.17% is taken out.

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