JPMorgan: The US 10-year Treasury auction may require concessions

"Given the lack of attractive valuations and the weakening support of the macro environment," this auction may require more concessions to be successfully absorbed. They stated: "Due to the lack of clear formations in the charts, we maintain a neutral technical preference." According to Tradeweb data, the yield on 10-year U.S. Treasury bonds rose by 2.2 basis points to 4.550%, retreating from the four-week high of 4.565% reached earlier in the day.