As stock gains are eroded, so are yield rise out the curve

<p>The broader indices are eroding their gains. The S&amp;P index is now up only 4.7 points or 0.11% at 4221.67. The NASDAQ index is up 7.4 points or 0.06% at 13027. </p><p>At session highs, the S&amp;P was up 42.35 points. The NASDAQ index was up 152.06 points.</p><p>While stock prices move lower, yields are also giving back there gains. The 10 year yield is now unchanged at 4.838%. The 30 year yield is down -1 basis point at 4.979%. At the top of the hour the U.S. Treasury will auction off two-year notes.</p><p>The USD is still higher. </p><ul><li>The EURUSD is near its low for the day, and below its 100 hour moving average at 1.0592.. The 200-hour moving average and 61.8% retracement of the move up from the low last week comes in at 1.05706.</li><li>The GBPUSD is trading to a new low at 1.2154, and now looks to retrace the full move up from yesterday's low at 1.21426.</li><li>THe USDCAD remains near its high and above a key swing area between 1.37358 and 1.37433. The current price is trading at 1.3750.</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.