Gold falling. The dollar is rising
With the US yields running to the upside (the 30 year was up over 10 basis points and the 10 year was up over 7 bps), the US stocks started to give up their gains. The major indices are now trading negative on the day with the Dow down 37 points, and the NASDAQ down 60 points. The dollar has moved higher and gold prices have moved lower (down $-16)..
The USD was weaker at the start of the US session, but has now moved mostly higher with declines only vs. the NZD (but that is off its low too).
Looking at the 30 year yield, the yield has moved to a high of 2.2872% (up over 10 basis points on the day). That is a new cycle high and the highest level since January 17, 2020. The next target would come at the 61.8% retracement of the move down from the November 2018 high comes in at 2.4081%
The 10 year yield has traded as high as 1.4217%. That is the highest level since February 2020 and got close to the 38.2% retracement of the move down from the November 2018 high at 1.4348%. That retracement level corresponds with a swing low going back to August/September 2019.