USD 10Y Swap Rate Attempting Breakout That Could Expose 2.56%
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- USD 10Y annual swap rate is attempting a triangular breakout which if confirmed could shine light on the 2015 high at 2.56%, Bloomberg technical analyst Sejul Gokal writes.
Alert: HALISTER1- See live chart here; current rate at 2.42% up from 2.26% low seen four days ago
- Interim resistances at 2.46/47% and 2.52% (Dec. 16 high)
- A more aggressive objective set at 2.78%, derived from the measured projection from today’s breakout-point
- The implied yield on the April Fed funds futures contract is at 0.85%. Using the mid-point of the Fed’s target range, now at 0.625 percent, that suggests an 90% chance of a rate hike this month
- NOTE: Sejul Gokal is a 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