US10Y Chart Technical Outlook US 10-YEAR Treasury Yield is under pressure from cooling inflation
US10Y is under pressure from the cooling inflation in the US. The Fed is moving toward a less hawkish stance despite holding rates high for longer and arguing against rate cuts.
The recent strong bond auctions support the same bias.
Yields peaked in mid-October and retreated lower, printing lower highs and lows.
The calendar will get busy this week, starting today with the Consumer Confidence and a bunch of Fed speakers.
I expect more downside pressure below 4.35%, the 38.2% Fibo retracement level.
Resistances: 4.50%, 4.65%
Supports: 4.35%, 4.25%
