The drop in yields yesterday was definitely a bummer for the dollar, coming off the back of 2-year notes auction yesterday here. For today, there will be a 7-year notes auction to watch out for as well. With that in mind, the key thing to be wary about in the bond market now is that 10-year yields are coming close to testing its 100-day moving average once again:
US Treasury 10-year yields (%) daily chart
This was the level mentioned here yesterday: The real test for the bond bond market can now begin
Amid the quieter and more mixed start to the new week, this is where things could really kick off and we see a broader and more sweeping move across asset classes.
