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2.50% And Uptrend Channel Intact In 10-Year Yields

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The pullback from yesterday’s lows in German 10-Year yields leaves both the 2.50% mark and the uptrend channel in place since late December intact.

  • Tomorrow’s ECB decision will provide a key input for near-term direction,
  • With a June cut heavily telegraphed, markets will instead be focused on any new policy signals provided in the communique.
  • MNI’s baseline scenario sees President Lagarde steering clear of providing any strong policy signals for the July or September meetings, but indicating a willingness to ease further, economic conditions permitting.
  • Our full preview of that event is available here.

Fig. 1: German 10-Year Yield (%)

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The pullback from yesterday’s lows in German 10-Year yields leaves both the 2.50% mark and the uptrend channel in place since late December intact.

  • Tomorrow’s ECB decision will provide a key input for near-term direction,
  • With a June cut heavily telegraphed, markets will instead be focused on any new policy signals provided in the communique.
  • MNI’s baseline scenario sees President Lagarde steering clear of providing any strong policy signals for the July or September meetings, but indicating a willingness to ease further, economic conditions permitting.
  • Our full preview of that event is available here.

Fig. 1: German 10-Year Yield (%)

Keep reading...Show less