JPMorgan Says Treasury 10-Year Yield Has Upside Beyond 2.24%
- Yields have found a temporary base around 2.08%, Hunter says
- Strategist says 2.28%-2.36% area would attract buyers again
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Treasury 10-year yields may be set to keep rising after bouncing off a key technical level, according to JPMorgan Chase & Co.
A combination of positioning indicators and momentum-based analysis suggests a short-term reversal after the global bond benchmark dipped into the 2.01% to 2.08% zone before recovering, technical strategist Jason Hunter wrote in a note Tuesday. Yields may climb toward the 2.24% level, with a move even higher attracting buyers again, he said.