10-year US Treasury yields faced resistance near 2.06% and has subsequently broken below a steeper channel. However, economists at Société Générale expect yields to stay above the 1.66% level.

Channel band at 1.92% caps immediate upside

“March 2021 peak of 1.77% is first layer of support. A large downside is not envisaged; the neckline of the Inverse Head and Shoulders confirmed earlier at 1.66% is expected to be an important level.”

“Channel band at 1.92% caps immediate upside.”