Shorts Suggested On 10-Year Notes As Yields Spike Following Strong NFP and Upcoming Auctions
US Treasury yields took off on Friday, with yields on bonds maturing in 10 years posting their biggest daily rise since May 18. The sharp drop in the 10-year Treasuries came after a stronger-than-expected employment report which showed 255,000 jobs added in July, bolstering expectations for another Federal Reserve interest rate hike this year
The jump in yields resulted from the rally in US equities as the jobs data hurt appetite for safe-haven US government bonds. Yields are expected to rise further as the U.S government prepares to auction new bonds this week. The U.S. is selling 10-year debt over three days starting Tuesday.
Sell Stop at 131.95, Take profit at 131.80, Stop loss at 132.05