10-year US Treasury yields struggled to overcome October peak of 1.70% resulting in retraction of recent gains. It broke below a multi-month ascending trend line and is now at projections of 1.40% after rising nearly 3% on Thursday. A break below here would up 1.29%, economists at Société Générale report.

US 10-year Treasury yields to alleviate downside pressure above 1.60%

“As long as recent bearish gap at 1.60% is not crossed, a short-term down move could persist.”

“A break below 1.40% can lead to a deeper pullback towards revisit of August high near 1.37% and 1.29%.”