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FXStreet (Mumbai) - The yield on the 10-year Treasury note rose above 1.9% on Tuesday for the first time since April 13 amid fears economic growth will spur rate hike.
The benchmark yield rose after Federal Reserve Bank of New York President William Dudley said on Monday he is relatively optimistic US growth will support an increase in borrowing costs this year. The two-year yield, which mimics short-term interest rate expectations, touched the highest yield level in a week.
At the moment, the yield is trading at 1.902%, down 1.2 basis points for the day. The yield touched a high of 1.919%, before finishing at 1.909% at New York closing.
10-year yield Technical Levels
The immediate resistance is located at 1.926%, above which yield could rise to 1.982%. On the flip side, a break below 1.873%, under which it could fall to 1.844%.