LIVE Markets-Benchmark Treasury yield pushes higher as long-term breakout gathers momentum
TLT•Key yield levels and technical outlook
The next upside level to watch is the January 2025 high at 4.809%. A break above that would put the October 2023 peak of 5.021% in play. The upper yearly Bollinger Band, now just above 5.00%, sits close to that level. For longer-term context, the January 2007 high was 5.333%.
On the downside, initial support lies around 4.668%. The 10-year yield has posted six consecutive weeks of higher lows, so a move below 4.6131% this week would end that streak. A deeper pullback below former triangle resistance, now support near 4.53% on a weekly basis, would begin to undermine the breakout story.
For now, the broader technical picture remains constructive. As long as the 10-year yield stays above its 20-month moving average, currently just above 4.30%, the longer-term uptrend remains intact.
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Benchmark Treasury yield pushes higher as long-term breakout gathers momentum
Long-term Treasury yields are back in the spotlight following Tuesday's sharp move higher. The 30-year U.S. Treasury yield US30YT=RR climbed to its highest level since 2007 as stalled efforts to end the U.S.-Israeli war on Iran and fears of a broader escalation pushed oil prices above $90 a barrel. The surge in energy prices has revived inflation concerns, rattling markets and sending E-mini Nasdaq futures NQc1 down more than 1%.
