US 10-year yield climbs above key levels
10-year breaks 55-dma and 61.8% retracement
There are two levels that I highlighted on this chart earlier in the week and both have now broken. Yields are at the highs of the day with the 10-year up 8 bps to 1.85%.
The market is beginning to hint that Powell won't be quite so aggressive and (more importantly) that risks to the trade war have receded. It's increasingly likely that we get back above 2%
The cross-market trades on the rise are to buy USD/JPY and sell gold, which is at a session low.