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Ten-Treasury yields at day’s high after Consumer Confidence spikes to 7-year high

FXStreet (Mumbai) - FXStreet (Barcelona) - The treasury yields across the short end and the long end of the bond market curve have inched higher after the US Consumer Confidence for October came-in at a 7-year high.

The Ten-year treasury yields are trading at a day’s high of 2.296% after the US consumer confidence in October printed in 94.5, compared to the expectation of 87. The confidence index has come-in at a 7-year high despite the fears of a global economic slowdown, Ebola fears. "A more favorable assessment of the current job market and business conditions contributed to the improvement in consumers’ view of the present situation," said Lynn Franco of the Conference Board.

Moreover, the ten-year yield remained resilient despite a surprise fall in the Durable goods orders in September. Meanwhile, the two-year yield has inched higher to 0.394%.

Ten-year yield Technical level

The yield has an immediate resistance of 2.3%, above which it can rise to 2.348%. On the flip side, yields may decline to 2.22% if the immediate support of 2.25% is breached.

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