10-year Treasury yields keeping steady near 1.37% so far on the day

There was a brief push above 1.38% overnight but ultimately, the daily resistance in the form of the double-top from the August highs kept any upside momentum in-check.

USGG10YR

As such, that will once again be a key focus in the sessions ahead in case bond sellers start to make a play to go in search of a technical breakout in yields.

In turn, expect that to have more significant reverberations for other asset classes. For FX, that likely will translate to a firmer dollar with USD/JPY in particular one to watch.

Looking ahead later today, there is the 10-year note auction coming up and that will be a key risk event to take note of considering the technical predicament pointed out above.

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