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Treasury yields push higher in European morning trade

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That’s a good sign for risk sentiment, at least for now

USGG10YR

10-year Treasury yields are up 3.3 bps to 1.242% and that is keeping with the more optimistic mood in the market following yesterday’s bounce.

European indices are stretching gains, up by 1% mostly, while S&P 500 futures are also up 0.4% now with Dow futures up 0.6% on the session.

Two days don’t make for a trend, or at least it does not take away from the move lower in yields over the past two months, but if 10-year yields can make its way back above the 200-day moving average (blue line) and 1.30%, bond sellers may gather more conviction to step back in more strongly.

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