LIVE MARKETS-Benchmark Treasury yield caught in the Cloud
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BENCHMARK TREASURY YIELD CAUGHT IN THE CLOUD
U.S. Treasury yields fell on Tuesday, after economic data indicated weakening in the manufacturing sector and the labor market, and the Trump administration's upcoming announcement of tariffs added to investor caution.
Now on Wednesday, in the wake of the March ADP national employment number, which came out above the estimate, and ahead of the tariff announcement, which is due at 4 p.m. ET, the U.S. 10-year Treasury yield US10YT=RR is dipping to around 4.13% from a 4.156% finish on Tuesday.
Meanwhile, the yield remains trapped within the weekly Ichimoku Cloud:
The lower boundary of the Cloud, which is now around 4.01%, contained the early March dip to 4.106%, while the upper boundary, which now resides around 4.31%, has not been cleanly surpassed on a weekly closing basis, since the yield fell back below it in late February.
Thus, ending a week below the weekly Cloud, can put the lower monthly Bollinger Band, which is now around 3.72%, as well as the September 2024 low at 3.599%, and the April 2023 trough at 3.253% back on the table.
Closing out a week above the weekly Cloud, along with a thrust above the early February trough, and late March high, which were both at 4.40%, would suggest the yield is going to make another attempt to climb to, and above, the upper monthly Bollinger Band, which is now around 4.85%, and the 5.021% October 2023 high.
(Terence Gabriel)
FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
WATCH OUT FOR AN UPTICK IN U.S. APRIL DATA - CLICK HERE
US TREASURIES WILL FOLLOW STOCKS ON APRIL 2 - CLICK HERE
TRUMP TARIFFS: WILL THE UK EARN A FREE PASS? CLICK HERE
HEALTHCARE LEADS EUROPE LOWER - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES DIP AHEAD OF LIBERATION DAY - CLICK HERE
MORNING BID: MARKETS AT A STANDSTILL BEFORE TARIFF DRAMA - CLICK HERE
US10YT04022025
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