10-year Treasury yields push to fresh one-month high
10-year yields are continuing to keep a bounce in August, pushing to near 1.37% as we get things going in European trading today.
This continues the momentum from the double-bottom established just below 1.13% as bond sellers resurface in a strong fashion over the past week.
The measured target on the double-bottom looks to be somewhere between 1.50% to 1.60% and that might arguably be a fitting area for yields to settle in, following what looks to be an extended short squeeze since May.
That will allow for some consolidation as the market toys between the Fed's tightening outlook and COVID-19 fears amid the spread of the delta variant.
But for now, the continued push higher in yields is lending some backing to the stronger dollar - more so for USD/JPY - and keeping yen pairs buoyed in general.
