The 10-year yield cracked 3%. Technician says 4% is just around the corner
The yield on the 10-year Treasury note cracked through its 3 percent level this week to hit its highest level since mid-June as the bond market showed signs of activity after a quiet summer. A bottom in Treasury yields formed over the past three years, demonstrated by low in February 2015, a lower low in mid-2016 and a higher low in September last year, says Cappelleri. For those expecting a more hawkish Federal Reserve, higher yields also make sense, according to Cappelleri.