Yield move back above its 100 day moving average at 1.80%
The US 10 year yield tip to a yield of 1.684% on Friday's trading before rebounding after the stronger US jobs report. The 1st two days of this week, have seen the yield move even higher. The yield is up to 1.863% up nearly 9 basis points on the day and 20 basis points from the low yield on Friday.
The run higher today has taken the yield back above its 100 day moving average at 1.80%. The next topside target comes at the September high yield at 1.904% and then the July low yield at 1.9378%. After that, traders will behind the magical 2% level.
Over in Europe, France's 10 year OAT yield is also moving higher but at a more modest pace today. It is currently trading at -0.018%. The high yield for the day reached -0.006%. The yield has been below the 0.0% level since July 17. A move back above the 0.0% would leave the German 10 year as the only major European country below the 0.0% level (it is currently at -0.309%.
