US 10Y Yields: Break under support of 3.50% to unravel further losses – SocGen

10-year Yields have plummeted 76 bps from their high of 4.335%.  Support must come quickly to avoid yields unraveling below 3.50%, economists at Société Générale report.

Signals of a meaningful up move are not yet visible

“Signals of a meaningful up move are not yet visible; failure to reclaim the peak formed earlier this week near 3.80% can lead to continuation in pullback.”

“Below 3.50%, next objectives are located at 3.38% and the lower band of the channel at 3.25%/3.20%.”

See: US 10Y Bond Yields could move below 3.00% – Credit Suisse