Yields for long-dated government debt on Wednesday were headed to the lowest rates since March and late February, FactSet data how, setting benchmark Treasury yields to fall below their 100-day moving averages for the first time in about eight months. The 10-year Treasury note
at its Wednesday low at 1.469%, was below its 100-day moving average at 1.47%, according to FactSet data. Meanwhile, the 30-year Treasury bond
hit 2.150% at its Wednesday nadir, below its 100-day MA at 2.199%. Technical analysts look at moving averages to gauge long-term and short-term momentum in assets. The 10-year and 30-year bond haven’t traded below their since September of early August, according to FactSet. The moves come as May reading of the U.S. consumer-price index due on Thursday morning is expected to be the main event of the week. A hotter-than-expected April CPI reading, which showed prices rose 4.2% year-over-year, briefly rattled markets last month.
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