The US 10 year yield is up again today. It is currently at 1.675%, up 4.5 basis points. The high yield reach 1.681%. The low yield today was at 1.614%.
Looking at the daily chart, connecting the high yield going back to March 30, 2021 to the higher yields in October and November 2021 cuts across near 1.683%. That is near the high for the day.
Move above that level and the November 24 high at 1.691%, followed by the October 22 high at 1.706% would be the next targets.
Getting above the 1.706% level opens the door for even further upside momentum. The high yield in 2021 reach 1.754%. Move above that level and traders will start to target the end of 2020 yields between 1.944% and 1.971%