10-year Treasury yield rises to highest level in two weeks above 1.60%

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  • The 10-year US yield rebounded strongly from 1.54% to 1.60%.
  • Yields across the curve reached new daily highs in US hours.
  • DXY is back in positive territory for the day, above 95.00.

US yields turned higher during the US session and rose to weekly highs. The 10-year yield went from below 1.55% to 1.609%, reaching the highest level in two weeks. Treasury yields along the curve reached new highs with the 2-year rising at 0.542%, the 5-year at 1.257% and the 30-year at 1,989%.

At the same time, TIPS version 10-year yield (inflation protected) remains flat on Monday, close to the all-time low at -1.162%.

Last week, US inflation figures weighed on Treasuries, triggering a rally in yields that is still continuing. If at 10 years it manages to consolidate above 1.60%, higher figures are expected.

Movements in the bond market continue to support the greenback. The DXY returns to positive territory after falling to 95.00 and stands at 95.16, looking at the recent cycle high of 95.26.

Economic data released Monday beat expectations with the Empire Manufacturing Index rising to 30.9 in November from 21.6 in October, and significantly above the 21.9 of the market consensus. The retail sales report will be released on Tuesday.

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