Societe Generale sees the US 10-year Treasury yield targeting 5.36% if it clears the 5.05% resistance level following a successful defense of 4.81% support.
Societe Generale's rates team sees the 10-year yield extending post-CPI gains after holding trendline support near 4.81%, now testing the 50-DMA. A break above the 5.05% pivot targets the 5.16%/5.18% gap and the October high near 5.36%. Bullish for the yield, though the bank flags possible consolidation between 4.81% and 5.05%.
Societe Generale reports that the US 10-year Treasury yield is extending gains after successfully defending support at 4.81%. Analysts note the yield is currently testing its 50-day moving average, with a potential breakout above the 5.05% pivot level setting the stage for a move toward the October high of 5.36%.
Support sits near 4.81% (trendline and January 2025 peak), with consolidation seen between 4.81% and 5.05%. Above 5.05%, Societe Generale targets the gap at 5.16%/5.18% and then the October high near 5.36%.
A sharp up move following CPI data, with the yield defending key trendline support near 4.81% and now challenging the 50-day moving average.