Treasury Yields Lose Steam — Market Talk

The 10-year Treasury yield rally loses steam after investors showed strong demand in a $38B auction of new government debt. The benchmark yield was slightly higher, at 1.138%, after reaching 1.18% by midday. The yield is up for seven consecutive sessions, but still down 0.681 percentage point from a year ago. Spartan’s Peter Cardillo says that “from a fundamental perspective, the rise is overdone.” He expected the yield to reach 1.25%, but “we see a peak level soon occurring.”