US 10-year note yields are near an inflection point, the 2.09/2.10% yield level.
The year-long down trend in yields from about the 3.60% level looks to be threatened. We’ve broken the downtrend by trending sideways for the last six months and a break above 2.10% would suggest a reversal toward higher yields is underway.
Should yield break out to the upside, this would broadly support the Greenback, especially interest rate sensitive USD/JPY.
