At 5%, this is where chart analysts say the 10-year Treasury yield is headed next

The 10-year Treasury yield finally hit the 'psychologically significant' level of 5.00% late Thursday.

US10Y 5D mountain 10-year yield this week The benchmark 10-year Treasury yield briefly reached the 5% milestone late Thursday, raising questions of how long it will stay elevated and what the effect will be on stocks. The 10-year yield — a key determinant of mortgage rates and credit card interest rates — later fell back to around the 4.96% area Friday, still near a 16-year high after having risen some 40 basis points in October alone. .

The technical measures Ciana watches, such as Elliott Wave theory , where he he see wave five having been reached, suggest the 10-year yield "probably finds its peak between 5.0% to 5.5%." Ciana has recently shifted from telling clients to sell any brief Treasury rallies to taking "tactically long" postitions instead. "This is the last leg of the upmove" from the 2020 low, when 10-year yields touched 0.31%, he said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

10-year Treasury yield rises as high as 4.98% ahead of Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »

10-year Treasury extends multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »

10-year Treasury extends multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »

10-year Treasury reaches fresh multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »

10-year Treasury reaches fresh multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »