After 10-Year Treasury Rates broke above technical resistance at 3.48% on February 3rd, yields quickly climbed to a high of 3.72%. However, the escalation of Middle East turmoil and the Libyan revolt brought a flight to safety that sent yields back to the recent support level just below 3.5%.

10-Year Treasury Note Yield

Barring a significant increase in crude from today’s levels (with Brent crude @ $112/bbl) and a corresponding correction in worldwide equities, 10-Year note yields appear likely to stay above the 3.30% support level for the near term.