Treasury Yields at a Precarious Level

As I wrote in Friday's column, I believe that the 2.03% level is a critical support point for 10-year Treasury yields, and if we can breech that, we should move into a 2.25%-2.40% area. However, it looks like we are going to battle it out at this support point for a little while.

After spiking to 2.08% immediately after the payroll reports on Friday, yields drifted down to 2.06% by the end of the day. I had thought that would have been enough to take out some weak longs and send rates into a new range. However, Asian and European buying came in on Monday and again this morning. So both days, we opened lower in yield. On Monday, we drifted back to approximately unchanged at 2.06%, so today's close becomes very interesting....561 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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