US 10-year yield: Can the rise extend to 5.36%? – Societe Generale

Yields are testing the 50-day moving average following a sharp advance in 10-year US Treasuries from key trendline support near 4.81%, according to Societe Generale’s rates team. While the bank considers consolidation within 4.81%–5.05% possible, it envisages a larger rise towards the 5.16%–5.18% gap and October’s high near 5.36% if resistance is breached.

What lies ahead as Treasury yields extend post-CPI gains?

"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%."

(An editor reviewed this article, which was produced with assistance from an Artificial Intelligence tool. Learn more.)