It could be time to start buying the dip on Treasury yields
As the Federal Reserve meets to decide on its next monetary policy move, is recent economic data hinting at fresh buying opportunities in Treasury yields (^TYX, ^TNX, ^FVX)?
Bank of America Chief Technical Strategist Paul Ciana joins Yahoo Finance's Morning Brief in-studio to discuss projections for US treasuries based around market volatility and the Fed's own interest rate agenda.
"Short-term technical patterns are always developing which could indicate a move back up to 4.75, maybe approaching 5%. And what I love about that actually happening is then we would be able to form a big top in the 10-year yield chart, which we don't have yet," Ciana explains. "But I think if we just kind of look through the forest for the trees kind of bias and technicals, here is if we're up around 4.60 or so in the ten-year, we should be nibbling long. If we're retesting the year-to-date high in ten-year yields of 4.74%, we should be buying. If we're above that, we should be loading the boat long..."
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This post was written by Luke Carberry Mogan.