U.S. 10-Year Treasury Yield May Rise Further, Says UOB Strategist

UOB Global Economics and Market Research strategist Quek Ser Leang has indicated that the U.S. 10-year Treasury yield could continue to rise, according to Odaily. He noted that the yield increased by 23.1 basis points last week. Quek highlighted that in previous instances where the 10-year Treasury yield experienced such significant weekly increases, it tended to rise further. He also mentioned that last week's strong increase was accompanied by the yield breaking through a weekly downtrend line connecting the highs of 5.021% and 4.809%, which suggests a continued upward trend in yields.