US 10-year yield in focus - BBH

Analysts at Nomura explained, that except for a scare in late August and early September, the US 10-year yield has held above 2.10% and has held below 2.40%, but for a couple of days in May, since the end of Q1. 

Key Quotes:

"The yield snapped back after nearing 2.0% on September 8 to reach almost 2.36% by the end of last week. To put some perspective on it, the 200-day moving average is near 2.32%. The December note futures contract is finding some technical support near 125-00. "

"A break would target the June low near 124-14. The Slow Stochastics have turned higher, but the MACDs and RSI allow for a limited push lower. "

"The weekly technical indicators favor lower prices (higher yields) over time. The gap lower on September 11 is taking important technical significance--signaling a top of some import is in place."