Benchmark Treasury yield: 7-week win streak in jeopardy
Nasdaq 100, S&P 5090 futures slip, Dow futures edge green
Euro STOXX 600 index off ~0.5%
Dollar, bitcoin rise; gold dips; crude down ~1.4%
U.S. 10-Year Treasury yield edges down to ~4.33%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
BENCHMARK TREASURY YIELD: 7-WEEK WIN STREAK IN JEOPARDY
In the wake of Donald Trump's presidential election win, the U.S. 10-year Treasury yield US10YT=RR surged to a more than four-month high on Wednesday. However, now, in the wake of the Fed's 25 basis point rate cut on Thursday, U.S. Treasury yields are dropping across the board.
With this, the 10-year yield's seven-week win streak is now at risk of ending:
On Wednesday, the yield, which hit 4.479%, probed above the resistance line from its October 2023 high. However, the yield failed to end above this hurdle, which now resides around 4.44%.
The yield has since retreated and now stands around 4.32%. A close Friday below 4.363% will end its seven-week win streak. The yield last rose more than seven weeks in a row with a 12-week run of gains into its October 2022 high.
Additionally, last week the yield ended back above the upper boundary of the weekly Ichimoku Cloud for the first time since late June, suggesting a significant trend change to the upside.
However, with the reversal, the yield is back below the upper boundary, which resides around 4.365%, and is threatening the lower boundary which is around 4.30%.
Trading below the Cloud's lower boundary, confirmed by the weekly close, can flip pressure back to the downside.
Initial levels would then be at the 55-week moving average, which is now around 4.20%, and the 200-day moving average which is now around 4.19%.
The October 16 low was at 3.995%, while the September trough was at 3.599%.
Reclaiming the upper boundary of the Cloud, followed by a close above the resistance line, can keep the yield focused on the upside.
The April high was at 4.739% and the October 2023 peak was at 5.021%.
(Terence Gabriel)
*****
FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
IS FED INDEPENDENCE UNDER THREAT? PROBABLY NOT... - CLICK HERE
WHAT DOES TRUMP 2.0 MEAN FOR BIG TECH? - CLICK HERE
CITI FX STRATEGISTS SHORT THE EURO - CLICK HERE
ALL HOPE IS NOT LOST FOR EMERGING MARKET INVESTORS, SAYS UBS - CLICK HERE
STOXX 600 STEADY, SET FOR WEEKLY LOSS - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES CAUTIOUSLY HIGHER - CLICK HERE
STOCKS AT RECORD PEAKS ON STIMULUS HOPES - CLICK HERE
10Yryield11082024 https://tmsnrt.rs/4hyptwB
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
</body></html>免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
