BofAML Warns "US 10Y Yields Have Reached Massive Resistance"

Since mid-October the US$ has been under siege. However, As BofAML’s MacNeill Curry notes, that decline is showing signs of exhaustion from which a base and correction higher is likely. Curry’s “basing” view is further supported by the US Treasury market, where yields (particularly 5yrs and 10yrs) are poised to bottom and turn higher over the coming sessions

US Treasury yields set to base

US 10yr yields have reached “Massive” resistance. Specifically, the 2.474%/2.399% zone has been a long standing pivot which has repeatedly repelled. With momentum (14d RSI) at its most overbought since May, odds favor a medium term bearish turn in trend towards the mid-Oct highs at 2.759%.



Source: BofAML


via Zero Hedge Tyler Durden

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