Treasury yields turn lower as 10s reject 4%

<p>US 10-year yields earlier rose as high as 4.01%, which was back to the levels immediately after the December FOMC decision. Since then, bids in bonds have returned, driving yields down to 3.948%.</p><p>I'll be watching close to see if the dollar gives back gains, particularly USD/JPY. </p><p>This move lower in yields is also supportive for equities but it's not translating so far.</p><p>The FOMC minutes led to something of a pop in yields but it's not clear what as behind it. There were some more-hawkish comments in the minutes but nothing overly surprising. </p>

This article was written by Adam Button at www.forexlive.com.