US 10 year yield rises to the highest level since September 4

The US 10 year yield has risen to its highest level since September 4. The yield is currently at 3.817%. That’s up 3.6 basis points on the day.

The low yield for September has reached 3.599% (call it 3.60%). Since then, the yield is up 21.7 basis points. The Fed cut rates on September 18 by 50 basis points. The low yield after the decision moved to 3.638% before bouncing higher and closing at 3.713% on a day.

Looking at the hourly chart, the rising 100-hour moving average (blue line) has done a good job of holding support on the move back to the upside. Yes there has been ups and downs but apart from one hourly bar yesterday (that was quickly reversed), the moving average has helped support (see the blue line on the chart above).

This article was written by Greg Michalowski at www.forexlive.com.