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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.