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Treasury yields remain flat

FXStreet (Mumbai) - The Treasury yields in the US have traded in the sideways manner since the beginning of this week as investors await the monthly non-farm payroll data in the US.

The Ten-year Treasury yield is trading largely unchanged today at 2.342%, compared to the yesterday’s New York close of 21.335%. Moreover, the yields have remained steady despite the Fed announcing an end to its monthly QE program last week. The concern of a slowdown in the global economy has increased the demand for the Treasuries.

The Ten-year yields have traded largely in a range of 2.3% to 2.38% this week. The gains were capped by the disappointing Eurozone growth forecasts released by the European Commission yesterday. Meanwhile, a US strong manufacturing data released on Monday made sure that the yields stayed above 2.3%.

The Treasuries could see some volatility after the European Central Bank's rate decision tomorrow and post the release of the US non-farm payroll data on Friday.

Ten-year yield Technical level

The yield has an immediate resistance located at 2.384%, above which it can rise to 2.448%. On the other hand, a strong support is seen at 2.3%.

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