10-year US Treasury bond yields experienced a brief down move. But while above 3.50%, the uptrend is set to persist towards 4.00% and even beyond, economists at Société Générale report.

Short-term support aligns at 3.50%

“Daily MACD has dipped below its trigger however signals of an extended pullback are not yet visible.”

“The peak of June near 3.50% remains a short-term support.”

“Holding above 3.50%, 10Y UST is expected to persist with its uptrend towards 4.00% and perhaps even towards the upper limit of a multi month channel near 4.15%/4.20%.”