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US Ten-year Treasury yield at day’s low

FXStreet (Mumbai) - The Ten-year Treasury prices gained in the US, pushing the yields lower ahead of the USD 24 billion auction of 10-year notes in the US.

The treasury yields traded five basis points lower at 2.32% at the time of writing. Moreover, the yields have been under pressure since the European session as markets priced-in growth concerns after Bank of England revised growth and inflation forecasts lower in its quarterly inflation report.

Meanwhile, Bloomberg data revealed that the long end treasuries have been the best performing bonds for global investors this year. The treasuries due in ten-years or more returned 18% in 2014 through yesterday, after adjusting for gains in the debt and a dollar rally.

Ten-year yield Technical level

The yield has an immediate support located at 2.30%, under which it can extend the fall to 2.273%. On the flip side, resistance is seen at 2.362% and 2.4%.

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