Treasury yields remain a focal point ahead of US CPI data release later today
10-year yields keep below 1.50% for now
The break below 1.50% in 10-year Treasury yields yesterday was the first since early March and technically, it may be a rather significant one. That said, there is the 100-day moving average (red line) nearby and that is a key spot to watch.
Bond buyers will be hoping to break that but a lot will ride on the reaction towards the US CPI data release later today. Given that consideration, there isn't much widespread reaction across other asset classes to yields as well - for now at least.
The dollar did track lower initially in North American trading yesterday but recovered soon enough. Estimates for the US CPI data are for inflation figures to show a further uptick in May so any disappointment could send yields reeling and perhaps we may get a broader market response in reaction to that later in the day.