US 10 year moves to highest level since January 5th

The US 10 year yield is trading up 7 basis point on the day after the US CPI data and that takes the yield to the highest level since January 5. The high today reached 3.776%. The high on January 5th was at 3.782%. The high for the year reached 3.848% on January 3rd.

Looking at the daily chart, the move higher today has taken the yield above the 100 day MA at 3.786%. Closing above would be the first since January 5th.

Meanwhile the 2 year yield is up 11 basis points and trades at its highest level since November 9th. The yield moved and closed at a new high for 2023 yesterday. That momentum is continueing today. The cycle high was reached in early November at 4.881%.