Bund 10-Yr Yield May Extend as Far as 200-DMA at 17bps: Charts
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Global bond selloff theme may drive German 10-Yr bund yield toward its long-term average line at 17bps after breakout into positive territory last week, Bloomberg technical analyst Sejul Gokal writes.
Alert: HALISTER1- See chart here
- Bund 10-Yr yield at 4bps vs. last week’s low of -13bps
- Next support at 11bps -- 61.8% Fibonacci retracement of late April early June rally
- Potential overshoot scope to 17-19bps (200-DMA, 76.4% Fibo)
- Yield clearing 100-DMA support at 1bps; on track to close above the DMA for first time this year
- Bund 2s10s steepening may extend to 200-DMA at 69bps vs. 66bps current level
- NOTE: Sejul Gokal is an technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Source: BFW (Bloomberg First Word)
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UUID: 7947283