US10-year Treasury yield jumped above 2.46%
In anticipation of the upcoming policy tightening cycle, the global bond market resumed downward move following recent several hawkish comments from FED members which, in turn, led markets to bet on a higher probability of the Fed lifting rates by 50 rather than 25 basis points during its next meeting in May. Major central banks have tried to contain inflation, which is currently hitting record levels in Europe and a 40-year high in the US. During today's session, the yield on the US 10-year bond, which sets the tone for the cost of corporate and household debt worldwide, rose above 2.46%, a level not seen since May 2019. The yield on 10-year German Bunds, a benchmark for Europe, jumped to 0.56%, the highest since May 2018, while French 10-year yields remained above 1%.
TNOTE resumed downward move and broke below major support at 122.50 which coincides with 78.6% Fibonacci retracement of the upward wave launched in October 2018. If current sentiment prevails, downward move may accelerate towards 117.50. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
