The 10 year T-bond yield is surging higher this morning by 7.0 basis points to 3.48 percent. This move higher in the yield means that bond prices are declining lower. Traders can see how the iShares Barclays 20+ Yr Treas.Bond ETF (NYSE:TLT) is selling off by 0.77 cents to $91.63 a share. The iShares Lehman 7-10 Yr Treas. Bond ETF (NYSE:IEF) is trading lower by 0.57 cents to $92.79 a share.
The 10 year T-note yield will have resistance around the 3.50 percent level. This is where traders can look for a small bounce in the bond prices. Please remember the 10 year bond yield is very important because this is the yield that effects mortgage rates which is such a major part of the economic recovery.