US long term treasury yields jumped again overnight, with 10-year yield closed up 0.061 at 1.721, 30-year yield gained 0.057 to 2.424. Sentiments were positive on vaccine rollouts and return-to-normal in the US. President Joe Biden announced that the “vast, vast majority of adults”, 90%, will be eligible for coronavirus vaccine by April 19. Participating pharmacies will also more than double to 40k.
10-year yield’s strong rally yesterday suggests that 1.585 near term support was defended well after last week’s retreat. While upside momentum diminished as seen in daily MACD, there is no sign of a change in up trend yet. Current rally is still on track to 2% handle, which is close t 1.971 resistance and 55 month EMA.
