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29 Oct 2014
Ten-year yields hit 2.31%
FXStreet (Mumbai) - The Ten-year treasury yields rose to a day’s high of 2.31% ahead of the Federal Reserve (Fed) policy outcome tracking the gains in the stock markets.
The yields are inching higher across the bond market curve as the markets brace up for the end of the QE. The Fed is widely expected to announce a final cut of USD 15 billion, which will end its monthly bond buying program. Moreover, bond markets have already priced-in the end of QE since the first QE Taper announced in December 2013. Meanwhile, the two-year note yield, which mimics the short-term interest rate expectations, has inched higher to 0.434%.
Ten-year yield Technical levels
The yield has an immediate resistance at 2.35%, while the immediate support is located at 2.3%. The yields may fall to 2.25% if the support of 2.3% is breached.
The yields are inching higher across the bond market curve as the markets brace up for the end of the QE. The Fed is widely expected to announce a final cut of USD 15 billion, which will end its monthly bond buying program. Moreover, bond markets have already priced-in the end of QE since the first QE Taper announced in December 2013. Meanwhile, the two-year note yield, which mimics the short-term interest rate expectations, has inched higher to 0.434%.
Ten-year yield Technical levels
The yield has an immediate resistance at 2.35%, while the immediate support is located at 2.3%. The yields may fall to 2.25% if the support of 2.3% is breached.