The yield of the US 10-Year Treasury Note is trading at 1.82% this morning, meeting our 1.88% downside target first mentioned in our January 7th report entitled US 10-Year Note: Next Stop 1.88%? (access requires subscription) to capture an 8 bps decline over the past 7 days.
The iShares 20+ Year Treasury Bond ETF (TLT) has coincidentally risen by $2.38 or 2% during the same 1 week period.
Today’s sharp decline in yield clears the way for a potential test of the next key level level at 1.66%, which is displayed and discussed in more detail in our January 7th report.