US Market Outlook: US 10Yr Yield: 6% ahead
Strong bullish pattern on the charts keeps the upside open for more rise
The US 10-year Treasury yield rose to 5.23% on the week, closing at 5.17%. This increase led the dollar index to reach a high of 101.40, with the index settling at 101.05 by week's end. Despite the yield surge, US equities managed to close higher, with the Dow Jones Industrial Average recovering its intra-week loss and closing marginally up.
The S&P 500 and NASDAQ Composite Index followed suit, rising 1.21% and 2.06% respectively. The outlook regarding Treasury yields remains uncertain, with potential for further increases and the potential for the equity markets to sustain higher prices amidst these higher yields.
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