The US 10 year yield falls to the lowest level since May 10

Rate tests a lower trendline

The US 10 year yield is currently trading at 1.5791. That's down 2.2 basis points on the day. The low reached 1.5774%.

Looking at the hourly chart above, the move to the low has the instrument testing its lower trendline. A move below would have traders targeting the 61.8% retracement of the May trading range near 1.568%.

The high yield reached 1.705% on May 13.