Main Dish Will Be December Payrolls and Services ISM
The main dish will be served at the start of US dealings with December payrolls and services ISM. Yesterday’s consensus-beating labour market data extended the bond sell-off which started in Europe. US yields closed 5.4 bps (2-yr) to 8.3 bps (10-yr) higher. The US 10-yr yield regained the psychologic 4% mark and similarly tries to escape the downward corrective channel in place since the November Fed meeting. 38% retracement on the autumn 2023 downleg is located at 4.25%.
Source: actionforex.com