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US Government Bonds 10 YR Yield

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US10Y trade ideas

United States 10-Year Bond Yield - AT RESISTANCE 🤨👎Massive level of resistance has played out and Stocks could power higher as Treasury yields and dollar might ease further. 4,22% has been a Major Support/Resistance level (S/R as you can see on the chart) and the prices down have dropped even lower, below the psychological 4% What does that mean? When US government bond yields are on resistance, meaning they have reached a point where they are likely to reverse direction, it can have a significant impact on various aspects of the economy and financial markets. One of the most immediate effects could be on the stock market. Higher bond yields could lead to a sell-off in equities as investors may shift their money from riskier assets to safer ones like bonds. This could result in a temporary decline in the stock market and a potential increase in market volatility. The impact on the broader economy is more nuanced. Higher bond yields can lead to higher borrowing costs for businesses and consumers, which can slow down economic growth. However, if the bond yields are rising due to a strong economic outlook, it could be a sign of healthy economic expansion, which could offset the negative impact of higher borrowing costs. The Federal Reserve's monetary policy could also be affected by rising bond yields. If the Fed believes that rising bond yields could lead to an economic slowdown, it may adjust its policy by lowering interest rates or increasing its asset purchases to keep borrowing costs low and support economic growth. In summary, when US government bond yields are on resistance, it could have a significant impact on various aspects of the economy and financial markets. It could result in a temporary decline in the stock market, higher borrowing costs for businesses and consumers, and potential adjustments to the Federal Reserve's monetary policy. What's next? 🆘 The Feds are lots of data to watch out for: 📌 Fed Chair Powell speaks on Tuesday/Wednesday 📌 JOLTs job data on Wednesday 📌 Fed Beige Book on Wednesday 📌 Fed’s Barr speaks on Thursday 📌 February jobs report on Friday 📌 Final week of Q4 earnings Hopefully, this is a good sign to see a further rebound in the markets and a more dovish Federal Reserve.. unless they are aiming for chaos in which case they intend to raise rates over the 6% One Love, The FXPROFESSOR
TVC:US10YShort
by FX_Professor
4
Big Four: 2023 Macro ConclusionsI begin each year with a macro assessment of what I refer to as the big four markets: Bonds, Equities, Commodities, and the Dollar index. Over the last six weeks we have examined monthly and weekly charts of the big four, and developed our thoughts around how the next year might unfold. Those more detailed pieces are linked below. Late last year we presented a tutorial on using momentum to visualize the business' cycle from a market perspective (series linked below). We also produced a series covering credit conditions (also linked below). In this piece, we will combine all the things in an attempt to develop our trading views for the year. Bond Monthly: While there is still more work to be done to confirm the trend change, I believe the bond trend is finally changing as the world moves from the low inflation backdrop of the last several decades to a more inflationary backdrop. I intend to be a better seller into rallies and bearish technical setups in the weekly/intermediate perspective. S&P Monthly (Log): In the absence of overtly bearish behaviors and with the primary trendlines intact, I would be hard pressed to conclude that the macro trend has changed. In short, the secular bull remains intact and it should be given at least some of the benefit of the doubt. But my suspicion is that the secular trend is changing and that a primary bear market is unfolding. While still willing to take bullish trades in the daily and weekly perspectives, I am much more interested in opportunities to sell solid technical setups into weekly perspective strength. Commodities Monthly: I am a better seller of strength and will prioritize bearish setups. This chart continues to support the idea that the business cycle is weakening/topping. Dollar Index Monthly: The 70.70 - 121.02 trading range has defined the Dollar trade over most of the last 4 decades. Even at the August 2022 high, DXY remained well within this range. Since correcting from the August 2022 high, the market is now in the upper center of this range. Moves inside the bounds of the range are primarily noise and while they present trading opportunities, they mean little in macro terms. If the market does test the top of the broader range, my expectation is that a major shorting opportunity will develop. Business Cycle Matrix: The matrix is entirely consistent with a weakening business cycle that has yet to trough. Over the last two years rising short and long rates led the cycle lower. Equities, responding to higher rates, turned lower this year and both industrial and agricultural commodities are now weakening as economic demand wanes. The outlier is the Dollar. It has benefited from global flight to quality, carry and the aggressiveness of our central bank verses other central banks. But, of the asset classes, the Dollars relationship to the business cycle is the least consistent. Rates clearly led this cycle lower and it is likely that they will lead the next cycle higher. It is important to note that short rates have risen more than long rates. This has created the type of highly reliable yield curve inversion that signals a coming recession. High Yield Option Adjusted Spread - Investment Grade Option Adjusted Spread Monthly: If there is any one thing, other than a collapse in inflation, that would induce a Fed pivot it would be a rapid deterioration in credit conditions. A collapse would show up in this chart (series linked below). A spread moving back into the 500-600 bps area would get the Feds attention and begin to set the stage for a rapid pivot. Conclusions: 1. The business cycle is likely to weaken over the coming months. 2. The weaker cycle should produce lower equities (earnings will finally begin to deteriorate). 3. A recession should put in a temporary top for bond and note yields. 4. A sharply steeper curve, led by short rates falling more rapidly than long rates, would suggest that the recession was here. 5. A weaker business cycle should produce lower commodities and a lower Dollar. For myself, I like to have a blueprint of expectations to trade and position around. But it is also important to be flexible. In highly financialized and interlocked economies things change quickly and plans must be adapted to the new situation. I suspect that risk management and flexibility will be needed this year. Many of the topics and techniques discussed in this post are part of the CMT Associations Chartered Market Technician’s curriculum. Good Trading: Stewart Taylor, CMT Chartered Market Technician Shared content and posted charts are intended to be used for informational and educational purposes only. The CMT Association does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. The CMT Association does not accept liability for any financial loss or damage our audience may incur.
TVC:US10Y
by CMT_Association
6
My Thoughts on Treasury Yields and Why You Should Care5% of on a 1-year US Government Bond Yield? I never thought that I would see the day. Many of us have grown up in a low rate world. Today, you buy a US Treasury bond, hold it for a year, and get 5%. That's more than most stocks yield in dividends, probably nearly double or triple the average. However, it's said that the S&P 500 averages 7% a year or so. Nonetheless, factor in recession fears and the trade becomes even more interesting. What are government bond yields? A government bond is a debt security issued by a government to raise money. When you buy a government bond, you're effectively lending money to the government in exchange for interest payments. The yield on a government bond is the return you'll receive on your investment, expressed as a percentage. So if a bond has a face value of $1,000 and a yield of 3%, you'll receive $30 per year in interest. Why are government bond yields rising? I can list out those reasons for you below: 1. Inflation 2. The Fed is purchasing less Treasuries 3. Economic growth is slowing, which means taxes will be less What are the major implications? Opportunity costs. I'll say it again: Opportunity costs. Everything that is bought, sold, and/or traded now must be weighed against this 5% yield. Do you want to buy Apple for the next year at its current valuation or take a risk to get 5% on a Treasury bond? You can substitute Apple for anything and everything that comes to mind from construction investments to crypto. Do I own any bonds? NO. I missed it and am only now paying attention. Will I potentially add some to my portfolio? 5%? It's possible. That's why I wrote this idea. I want to share my thoughts and add a few of these symbols to my watchlist. I look forward to reading your comments!
TVC:US10Y
by scheplick
4
Interest rates - Bond yields... Are they really going higher?Recently the market's expectation for the Fed Funds Rate peaking around 5% and then coming down at the end of Q4 2023 changed, with the market now seeing rates going to 5.5%. Many investors/analysts are discussing bond yields heading to 6% and staying higher for longer. However, is that going to happen? What is sentiment telling us right now? What is data indicating? If rates keep going up, what does this mean for other risk assets? Sentiment right now seems to be quite bullish on yields (bearish on bonds). We are probably near a short-term top for bond yields, and I think this Fed hike may be the last one. The reason is that in Q3-Q4, we started seeing an actual economic deceleration, and inflation dropped significantly. In January, we had some weird data that might have to do with seasonality and adjustments on how inflation is calculated. The critical thing to note here is that rising interest rates act with long and variable lags and that the drop in inflation since July 2022 was caused by factors irrelevant to interest rate hikes. So let's take things from the beginning... Since Covid hit, we have seen tectonic shifts in markets. Many things changed in the global economy, which was already in bad shape. It's unlikely that inflation will be contained for a long time, given that we are at the end of the debt cycle, the end of globalization, we are in a war cycle, we are at war against the climate, and the labor market is changing rapidly. Therefore, bonds will likely substantially underperform inflation in the next decade. In 2020 and 2021, fiscal policy was heavily used over monetary policy, and we still feel the effects of those policies and the aftereffects of Covid. US monetary policy started shifting in March 2022, when the Fed began hiking rates and Quantitative tightening in July. Hence the changes in monetary policy couldn't have affected markets, as it takes more than 12 months for changes like this to have any effect. Of course, we also had the Russian invasion, which caused a commodity spike, and we had Europe and the US spending a lot on Ukraine and war equipment broadly. Then the relationship between US and China started worsening, while China was under lockdown and only started reopening in December - January. The global economy is in terrible shape and will get into a steep recession eventually. Some data make it look strong at times, but it isn't. I think the Fed is looking and acting in the worst possible way, and it's trapped. At the moment, markets are afloat mainly because of human ingenuity, past fiscal and monetary stimulus, and the actions of Central banks like the BoJ, HKMA, and PBoC, as well as the BoE and ECB having some form of QE going on, while the Fed & US treasury is increasing market liquidity by draining the TGA, creating T-bills and bank reserves. It's unclear what will happen when all the interest rate hikes start affecting the economy, but Central banks and Governments will resume supporting markets and the economy. There are several tricks they can implement before they start cutting rates or continuing QE, or doing Yield Curve Control, but ultimately they will get to that point. Now finally, let's get to the charts! TLT / UB look like they are bottoming here. Swept the lows but closed slightly above them. Double top and significant gaps are higher, so that's where I think it's headed. I don't want to say that we will go massively lower, but for now, I treat this as a range, and I don't want to let my view that inflation will come down affect me. My target is the range highs and nothing more. SHY looks like it capitulated and filled a double gap (partially) to the downside. That double gap occurred near the bottom, but now we have a massive double gap open to the upside, telling me it could go higher. Both that and TLT tell me yields down (bonds up)! Short-term yields have been increasing, with US 2y getting near 5%. Maybe that's the psychological level everyone thinks will break easily, but it doesn't. The majority is eyeing 6%. Perhaps we do a slight break above 5% on the 2y, then fall quickly below it. The average bond yield (random average) is at 4.5%, it also made a new high, but this could be a trap. I am not seeing much strength here. The 10y, which I used as the base chart for today, reaches a critical level where the major correction to the downside began and has found some resistance there. Finally, I wanted to discuss a few currencies and some overall observations. EURUSD and GBP are at support but looking weak. I can see how they could have one last dip and then higher, but I don't want to see them go much lower from here. USDJPY and USDCNH are trading higher, with USDJPY being 10% lower from where it peaked. The interest rate differential was the same as now or lower, so something is happening here. Maybe rates are peaking? Maybe the interventions from CBs and Govs are working? Stocks are also much higher than back then, and they don't look like they will go down. Both pairs seem to be back in an uptrend which seems close to peaking. Based on how their charts look, I don't think the USD will keep strengthening, which is telling me that something big has shifted in markets, which is bullish risk assets, and potentially bearish on bonds yields.
TVC:US10YShort
by BitcoinMacro
1
Higher Yields May Cause Bigger Correction On DXYHigher yields may cause a bigger correction on DXY, as yields can be still looking for wave 5 by Elliott wave theory. Yields higher, USD strong, stocks down. Risk-off flows may not be over just yet if yields are in fifth wave. However, when yields will make new high and then top after 5th, thats when DXY can complete B/2 rally, with a lower high, when focus will shift away from US to other CB. However, of course, wave 4 on yields can get more complex if current trendline support is broken, so wave B/2 on DXY may take more time to unfold. Grega
TVC:US10Y
by ew-forecast
1
Yield Curve InversionThe chart above is a yearly chart of the ratio of the 10-year Treasury yield (US10Y) to the 2-year Treasury yield (US02Y). The chart is meant to highlight how extreme the yield curve inversion is getting. Typically a yield curve inversion is indicative of an impending recession. Usually, the 10-year treasury should have a higher yield than the 2-year treasury since there is more risk involved when you invest in a longer-term treasury. Just recently, the 10-year treasury yield has reached a record low ratio of only about 85% of the 2-year treasury yield. In other words, investors are being compensated less for taking more risk. As the chart below shows, the rate of change (on a quarterly basis) in the 2-year Treasury yield has been parabolic. Below is the rate of change (on a quarterly basis) in the 10-year treasury which is typically more stable than the rate of change seen in shorter-term treasuries. The chart shows that the 10-year treasury yields have also been moving up at an unprecedented quarterly rate of change. Many analysts look to an inversion of the 10-year yield with the 3-month yield, which has not yet occurred. The failure of the 10-year yield to invert relative to the 3-month yield is likely due to the unprecedented rate of change in the 10-year yield, which has historically remained relatively stable. If the 10-year yield is moving up at a higher rate of change than the 3-month yield, this can delay or prevent an inversion altogether. Check out my analysis from July for a more in-depth discussion on why the failure (or delay) of the 10-year yield to invert to the 3-month yield might be signaling that we've entered into a new supercycle, in which higher yields may continue for the long term:
TVC:US10Y
by SpyMasterTrades
20
US10Y Rejection cluster. Targeting the 1D MA200 again.The U.S. Government Bonds 10YR Yield (US10Y) has been trading within a Channel Down pattern ever since the October 21 2022 High and even though there might be a Diverging Channel Up (dashed lines) emerging, the current levels and the fact that it has failed to break higher in the last five 1D candles, make it a strong Resistance cluster. With the 1D RSI also on such a rejection junction, we are turning bearish on the US10Y again, targeting the 1D MA200 (orange trend-line), which supported the price twice on January 19 and February 02. Potential contact (as a target) can be made at 3.510%. We will continue to be bearish only if the 3.320% Support breaks. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:US10YShort
by TradingShot
1
US10Y : Going UP - WHY???Bond yield has been going up these past few days. What is happening? Many would think that this is because of recent events like the 'hot' jobs market and sticky headline inflation which may cause the Fed to continue hiking rates - higher/longer. Sounds plausible??? Maybe. It may look like the MARKET is now going along with the Fed instead of disagreeing with it earlier by driving yield down. Note that inflation expectation is FALLING. There is ONE consequence of a HIGHER yield. ASSET price will come down. The stock market and home prices will CRASH. Already the country's finances is in a BAD shape. US is expected to pay up to $1T in interest alone. The consumer is already drowning in debt as evidence by the higher credit card debt at a time when interest is also a an all time HIGH. Both country and people may not last long holding up their finances. So what is causing yield to rise? One third of US DEBT outstanding is maturing this year. That is nearly $7T. And of the $7T, roughly $4T matures in the first 4 months of 2023. Since all these debt needs to be roll-over, this causes an increase in supply which means HIGHER YIELD!!! This is crazy. With high yield, asset price will fall which leads to RECESSION. With recession, tax revenue will fall which will require US to borrow more. All these is happening while the Fed is doing QT!!! So what kind of landing are we expecting? It is definitely not a SOFT landing. It is also not going to be a HARD landing. In my opinion, when debt is so HIGH, both public and private, it is going to be a CRASH LANDING. The consequence for the US and the entire world is devastating. Good luck to us all.
TVC:US10Y
by i_am_siew
7
US10Y - ST Pullback in Yield Ahead? Charted is a proposed price pathway for the 10yr T Bonds. I'm looking for an easing in yield soon... in the 4.125 area (.786 Fib level) specifically, sometime in early March. This will represent the top of the b wave of wave 4 off the Aug. 2020 low. This expectation flies in the face of recently released inflation related news. As such my parameters are well defined here. A move beyond the afore mentioned yield will make me reassess the trade. I'm seeing correlated markets showing signs of synergy with the expected outcome of this move. Specifically I am expecting a move up in oil, technical ST pullback in DXY and a technical bounce in gold...which will fail and complete a fantastic short set-up. See my Gold idea...
TVC:US10Y
by oliverrathbun
2
US10Y - TLT Part 2Unfortunately this website won't go past 20 years for 30Y yields, so I'm posting 10Y Anyways, the notion that the Fed is done at 5% is pure fallacy. We're seeing inflation we haven't seen since the 80's, and a lot of it is structural. Aside from labor shortage and Russian oil, we have way too much deficit spending by the government and the Fed balance sheet exploded during the COVID QE. Having taken out college loans at 10% interest, I wouldn't be surprised at all if yields went above 10%. People pegging the peak at 5 or 6% are gonna be in for a freakin' shock. I also expect rates to stay high until the Fed balance sheet comes back down, and we're talking 10 years or so because they're under water on all of the MBS they hold. That doesn't mean the stock market has to go down though, the stock market went up in that era aside from the '87 crash. Focus in inflation trades, stay away from bonds, especially TLT, lol. Note: I realize TLT is 20Y+, but no historical charts available for anything besides 10Y
TVC:US10Y
by hungry_hippo
12
2023 Market Projections: Leading Indicators and AnalysisTVC:US10Y The recent market response to data on CPI , PPI, and the selloff in the bond market, coupled with hints from the Fed about potentially raising rates towards 5% to 5.25%, provide important insights into where the markets could be heading in the coming weeks. Looking at the weekly chart of the 10-year Treasury yield, we can see a massive rising wedge pattern with a bull flag inside the wedge . The break out of the bull flag last week has a target of 5% to 5.25%, which aligns with the Fed's projected peak policy and the top of the wedge in the chart. There are some bullish signs in this chart, a hidden bullish divergence on the weekly with both the RSI and MACD , indicating a bullish continuation of the trend. Additionally, there is a bullish divergence on the daily chart , as shared a few days ago. These signals increase the likelihood of a bullish move in the 10-year yield, and if this plays out as projected, it could lead to high selling pressure in markets, including the stock market and crypto. Higher yields can reduce the profitability and spending power of companies and individuals, and make stocks and cryptocurrencies less attractive as investment options. It's important to keep a close eye on the bond market and monitor any potential impacts on other markets. This could mark the final leg down or a bottoming process in the current bear market, with the last leg down typically being a massive one. In the coming weeks, there may be a triple bearish divergence that develops on the 10-year yield, which could signal a nearby bottom in bonds. The stock market is expected to follow suit weeks later. It's worth noting that this analysis is based on confluence and projections around recent developments, leading indicators, and technical analysis projection methods. However, there are no confirmations on many aspects of it yet, and there is always a degree of unpredictability in financial markets. Therefore, it's important to acknowledge the uncertainties and potential risks involved in making projections based on technical analysis . It's also important to emphasize that this is not financial advice, and readers should always do their own research (DYOR) before making any investment decisions. Seeking professional financial advice before making significant investment decisions is also highly recommended.
TVC:US10Y
by ahmad_alibrahim