The 10-year Treasury yield has scope to rise above the 55-day exponential moving average, which is currently at 4.163%, UOB Global Economics & Markets Research said.
Price movements and technical signals suggest the yield could rise further, but upward momentum appears somewhat tentative, so it remains to be seen whether there’s sufficient momentum for the yield to clearly breach mid-December high of 4.295%, it said.
On the downside, support is at 3.900% ahead of late-December low of 3.783%, UOB added.