10-year Treasury yields close in on the 5% mark again

<p>Just when you thought that the backing off from 5% might trigger a bit more of a retracement, it all but lasted a day – more or less. 10-year Treasury yields hit above 5% for the first time since 2007 on Monday before falling to near 4.80% subsequently. But now, we're talking about a return towards the former again as yields are up another 2 bps today to 4.977% currently.</p><p>Keep in mind that after the 5-year auction yesterday, there will be a 7-year auction in Treasuries today as well. The event yesterday was not a major point for to extend the rout but it keeps with the ongoing waves of supply being pushed to the market.</p><p>And with Tokyo perhaps finally letting go of the 150.00 mark, USD/JPY might have a case of running much higher alongside the dollar now:</p>

This article was written by Justin Low at www.forexlive.com.