FXStreet reports that in the opinion of Commerzbank’s Karen Jones, Team Head FICC Technical Analysis Research and Axel Rudolph, Senior FICC Technical Analyst, yields of the key US 10-year benchmark are seen climbing to the 1.28 area in the medium-to-longer term.

“The US 10Y yield is heading back up towards the June and November highs at 0.96/0.98 which are expected to be exceeded with the psychological 1.00 mark expected to be reached as well.”

“The next medium-to-longer-term technical upside target is the 1.28 mid-March high.”

“Another one sits at the 1.32/38 2012 and 2016 lows and also at the 1.42 2019 low.”

“Immediate upside pressure should be maintained while the yield remains above the 0.81/0.79 August and early October highs and November 20 low.”

“Our medium-term bullish view will remain intact while the yield stays above the July high, mid-October and November lows at 0.72/0.69.”