*
U.S. equity index futures mixed: Nasdaq 100 off ~1%, DJI
edges
up
*
U.S. initial jobless claims 190k vs 195k est
*
Euro STOXX 600 index ~flat
*
Dollar, crude up; gold, bitcoin down
*
U.S. 10-Year Treasury yield jumps to ~4.08%
Welcome to the home for real-time coverage of markets brought to
you by Reuters reporters. You can share your thoughts with us at
U.S. 10-YEAR TREASURY YIELD MARCHES TO FRESH MULTI-MONTH
HIGHS (0900 EST/1400 GMT)
The U.S. 10-Year Treasury yield hit 4.083% on
Thursday, which is a fresh high back to early November. This
amid rising concerns that the Federal Reserve will need to
continue to raise rates and keep those rates higher for longer.
The yield is now on track to rise for a sixth-straight week:
With its latest push, the yield is forging above resistance
in the 3.95%-3.98% area which includes a weekly Gann Line and
the 23.6% Fibonacci retracement of the 1981-2020 yield bear
market.
This action can put traders on guard for the yield to challenge the 4.27%-4.3380% area. This zone includes another weekly Gann Line as well as the October 2022 high. The 4.3380% mark was the highest level since November 2007. The 4.3380% level protects against the potential for a further rise to the 5%+ area. The yield will need to close Friday back below 3.9490% to end the five-week win streak. Such a turn could then see the yield chop its way back down to the 3.55%-3.40% area as a number of weekly Gann Lines are providing yield support in this zone. The yield's mid-January trough was at 3.3210%.
(Terence Gabriel)
*****
FOR THURSDAY'S LIVE MARKETS POSTS PRIOR TO 0900 EST/1400 GMT
- CLICK HERE
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
10YY03022023 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Terence Gabriel is a Reuters market analyst. The views
expressed are his own)
