JPMorgan Is Watching for Treasury Yields to Break Out, One Way or the OtherBy
Bond bulls are on a roll, with the yield on 10-year U.S. Treasury notes declining for five consecutive weeks, the longest stretch since July. At about 2.24 percent, the benchmark is sandwiched between two resistance zones that could determine whether Treasuries break bullish or bearish in the weeks ahead, according to JPMorgan Chase & Co. technical analysts Jason Hunter and Alix Tepper. For the rally to continue, the 10-year yield has to fall below 2.15 percent, according to their note. If it does, it could plunge all the way back to 1.88 percent, a level that hasn’t been seen since the November U.S. elections.
— With assistance by Elizabeth Stanton
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