Can yields only move higher?

US 10 year - time for the second "golden" cross?

US 10 year is trading at 1.8%, highest levels in a year. A few days before Christmas we traded at 1.37%...so this has been a rather extreme move. 1.8% is a short term resistance level to watch (but there is nothing major to the upside until 2% should we close above the 1.8% level). Note the 100 day crossing the 200 day here. Momentum is strong, but this is getting ahead of itself in the short term at least.