The T-note isn't quite ready to break out

US 10-year yields back away from December high

One of the big levels to watch on the FOMC decision on Wednesday will be 2.64%. That level is the 10-year yield that's contained the recent selloff.

It was tested for the past three day but remains unbroken.

Today, 10s are testing the lows of the day but given the recent triple-bottom and run-up, it's the most minor of setbacks.

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