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Global Markets Are Facing Major Milestones at Every Turn 

April 24, 2018

Bloomberg, Sarah Ponczek, Aline Oyamada & Liz McCormick

"With all the focus on the 10-year Treasury yield, it’s easy to overlook the tumult that may await global investors across other asset classes.

The U.S. government’s decade-long borrowing costs crossed the 3 percent threshold for the first time in four years on Tuesday. That’s not just any round number, but one that marked the highs of its double-top formation back in 2013 and 2014.

That matters, according to Matt Maley, an equity strategist at Miller Tabak & Co., because the last time yields broke through a double-top, earlier this year, the February correction in equities ensued. “A potential break above the 3 percent level has a lot of investors walking on eggshells,” he said.

But 3 percent is hardly the only pivotal point for financial market participants. Across the landscape, there’s a plethora of assets nearing round-number milestones and technically significant levels, any breach of which could signify a sea-change."

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