Bearish UST 10yr yields: BofA Merrill Lynch

Quotes from BofA Merrill Lynch:

- We are bearish US Treasuries and short TYM4. Looking specifically at 10yr yields, evidence points to a break of the 100d at 2.124% ahead of a push to 2.347%/2.423% and potentially beyond. 

- Pullbacks should be limited to 1.840%/1.953%. This should put further widening pressure on the US-GER 10yr spread, which remains on track to test 2.7yr channel resistance at 202bps.