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Treasuries Threaten to Break Decades-Long Bullish Trend Line

  • Ten-year yields are pushing against a technical line in sand
  • BofA says yield may climb past 3% if dip buyers don’t appear
Updated on

The Treasury 10-year yield is on the verge of breaching a downward trend line that characterized the bond bull market for decades.  

Since the 1980s, the benchmark yield has pushed up against the long-term trajectory in 1990, 1994, 2000, 2007 and in late 2018, only to reverse course and head lower. The test is resuming after the recent selloff pushed 10-year yields above 2.40% on Wednesday, from 1.51% at the end of last year.