30-Year Yield Close to Breaking Out
03/26/2010 10:21 am EST
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%.