Treasury 30-year yields may have trouble climbing past their 200-day moving average of 3.18 percent, according to Daiwa Asset Management Co., citing trading patterns.
The rate increased two basis points, or 0.02 percentage point, today to 3.16 percent as of 7:15 a.m. in London. The moving average is seen as a barrier by some traders.
“It’s a resistance level,” said Tsutomu Komiya, who helps oversee the equivalent of $111 billion as an investor in Tokyo at Daiwa Asset, a unit of Japan’s second-biggest brokerage.
The yield has been less than the 200-day moving average for almost a month. In technical analysis, investors and analysts study charts of trading patterns and prices to forecast changes in a security, commodity, currency or index.
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