Odaily Planet Daily reports: Quek Ser Leang, strategist at UOB’s Global Economic and Market Research Division, said that, according to the weekly chart, the U.S. 10-year Treasury yield may rise further. He noted that the 10-year yield closed last week up 23.1 basis points, “following previous instances of such significant weekly spikes in the 10-year yield, yields have continued to rise.” He added that last week’s strong rally “was accompanied by the yield breaking above the weekly downtrend line connecting the previous highs of 5.021% and 4.809%, increasing the likelihood of sustained higher yields.” (Jin10)
UOB economist predicts further rise in U.S. 10-year Treasury yields.
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Summary
UOB economist Quek Ser Leang highlighted in the latest weekly market report that U.S. 10-year Treasury yields could rise further. The yield increased by 23.1 basis points last week, breaking a key descending trendline. He noted that past large weekly gains were often followed by additional increases. With the Fear & Greed Index reflecting rising investor confidence, the upward trajectory for yields appears more likely.
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