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US Ten-year Treasury yield rises to one-month high

FXStreet (Mumbai) - The yields at the short-end and the long-end of the bond market curve in the US inched higher ahead of the October Non-farm payrolls data.

The Ten-year treasury yield hit a high of 2.395%, while the two-year yield rose to 0.558% today. Moreover, the ten-year yield is hovering around one-month high as markets price-in a better-than-expected payrolls data after an upbeat weekly jobless data and ADP jobs report released earlier this week. The Non-farm payrolls data for October is likely to show that the US economy added 235,000 jobs, compared to the addition of 248,000 jobs in the last month.

The yields are likely to harden as we move closer to the US session. However, gains in the yields may be capped if the European and the US equity indices who signs of weakness.

Ten-year yield Technical levels

The yield has a resistance at 2.452% and 2.484%. Meanwhile the immediate support is located at 2.384%, breach of which shall open doors for a re-test of 2.35%.

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