Treasury 10-Year Yield Sets 2018 High, Traders Focus on 3%

Treasuries traders have a new level to focus on: the pivotal 3 percent mark on 10-year notes.

After the benchmark yield plowed to a new 2018 peak just above 2.96 percent on Friday -- its highest since January 2014, chart watchers are turning their gaze to the next round number on the horizon. Investors including Jeffrey Gundlach at DoubleLine Capital and Scott Minerd at Guggenheim Partners have previously highlighted a 3 percent 10-year yield as a critical level for the bond market.