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US Yields extend higher

CROSS ASSET
  • US 10yr is clear through the 2.90% level, now at 2.9238%.
  • In futures next support is seen at 118.19+, and below here the April low at 118.08.
  • Most investors will have their eyes on Yield, after it formed a near term double top ahead of the big psychological 3%, printed 2.997% on the 20th April, and 2.9698% on the 22nd April.
  • No spillovers into the USD, nor Equities, with Futures trading within ranges on the lower Equity cash open.
  • EGBs are mostly taking their cues from the US.

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