Treasury yields will come back into focus
Everything is cyclical in markets. What was once in style, will be in style again. What was once the theme driving markets, will drive markets again.
A few weeks ago, the bond market was on the top of everyone's tongue as 10-year yields hit 3%. It led to some jitters in equities and gave the US dollar a lift but eventually the bond market relented and yields slipped back.
However in the past week, yields have crept up again and the 10-year yield hit 3.01% again today before falling back to 2.99% currently.
If/when 3% breaks again, the levels to watch are the recent high of 3.03% and the 2014 high of 3.05%.
Also watch the 30-year bond yield. It's at 3.15% and the main area to eye is 3.22%.
