The yield on a short-term U.S. government debt is going to slide lower.
That’s the signal sent by the 2-year Treasury yield this week. It crossed below its 50-day moving average of 3.89% on Monday to close at 3.85%. On Tuesday, it fell even lower to 3.84%. When price of an asset or yield drops below a moving average, it indicates a possible downtrend.
This is a strong reversal in trend for the 2-year yield. It had been churning above this moving average since around May 8.
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