2-year yield breaks above 100-day moving average

NEW YORK: The yield on US two-year Treasury notes broke above its 100-day moving average on Thursday in a bond market sell-off, signaling a possible further rise in yields.

The two-year Treasury yield last traded at 0.297 percent, up from 0.289 percent late on Wednesday.

It earlier touched 0.301 percent, above the 100-day moving average of 0.296 percent, according to Tradeweb data.

If the Treasuries sell-off accelerates, the two-year yield could test chart support at 0.32 percent.