May 29, 2023

US 10 year yield moves up toward trend line/swing area

US 10 year

US 10 year yield

The US 10 year yield is up again today. It is currently at 1.675%, up 4.5 basis points. The high yield reach 1.681%. The low yield today was at 1.614%.

Looking at the daily chart, connecting the high yield going back to March 30, 2021 to the higher yields in October and November 2021 cuts across near 1.683%. That is near the high for the day.

Move above that level and the November 24 high at 1.691%, followed by the October 22 high at 1.706% would be the next targets.

Getting above the 1.706% level opens the door for even further upside momentum. The high yield in 2021 reach 1.754%. Move above that level and traders will start to target the end of 2020 yields between 1.944% and 1.971%

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