US 10-year yield advances towards 5.36% – Societe Generale

Yields are now testing the 50‑day moving average after key trendline support near 4.81% held, according to Societe Generale’s rates team, which highlights a sharp rally in 10‑year US Treasuries. While the bank considers consolidation between 4.81% and 5.05% possible, a break above resistance could pave the way for a larger advance towards the gap at 5.16%–5.18% and October’s high near 5.36%.

Treasury yields build on gains following CPI

"10y UST has staged a sharp up move after defending the confluence of a multi-month ascending trend line and the January 2025 peak near 4.81%. It is now challenging the 50-DMA."

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"A short-term consolidation cannot be ruled out within the limits of 4.81% and the recent pivot high of 5.05%. If this hurdle is overcome, 10y UST could embark on a larger up move towards the recent down gap at 5.16%/5.18%, followed by the October high near 5.36%."

"US: 10y IRS consolidates post CPI gains around 4.60% as cash trading resumes. Support 4.53%, resistance 4.66%."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)