30-Year Yield Close to Breaking Out

03/26/2010 10:21 am EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

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The yield on the 30-year bonds moved up to 4.77% on Thursday, which surpassed the highs seen in both early 2010 and in June 2008. The weekly chart (updated through March 25) shows that the long-term downtrend from the early-2000 highs is now being tested. Weekly and monthly momentum (not shown) are both rising and favor an upside breakout. This should be a further bullish factor for the dollar. A similar key level for the ten-year yield is at 4.40%.

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