Trades up to 2.344%

The much better than expected ISM non-manufacturing data, sent the yield of the 10 year note back higher. The yield is up to 2.34% currently, up 1.7 bps. The high yield moved to 2.3444%.

Technically, the yield has moved back above the 200 day MA at 2.321% and the 50% of the move down from the December 2016 high. That comes in at 2.3269%. Those levels will now be risk levels. Stay above, and the upside remains the favored bias.