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Treasury yield at day’s high after US Industrial Production data

FXStreet (Mumbai) - The Ten-year treasury yield in the US trades at the day’s high despite the official data in the US showed industrial activity contracted in October.

The Ten-year yield traded at 2.319% at the time of writing, after having recovered from a low of 2.282%. Meanwhile, the two-year note yield traded at 0.508%. US industrial production declined 0.1% in October, because a modest gain in manufacturing output was not enough to offset declines in the volatile utility and mining sectors. Overall industrial output in October was up 4%from a year earlier.

Meanwhile, Capacity utilization decreased to 78.9% in October from September's revised reading of 79.2%.

Ten-year yield Technical Level

The yield has an immediate resistance located at 2.362%, above which it could rise to 2.4%. Meanwhile, a break of 2.3%, shall once again push the yield down to 2.282%.

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