Five percent is a very important psychological level. People could start looking to build up longs at these levels.
More Quotes from Christoph Rieger:
We've got a lot of supply so that's putting Treasuries onto a bearish footing. People aren't expecting a good result from the auction and in the short term yields can push higher.Christoph Rieger
Recent numbers have been very favorable for euro-zone growth. We may see a small grind higher in yields.
Christoph Rieger
It's an equity story today in the bond markets. The equities decline is probably due to worsening economic fundamentals, so that will also pull yields down.
Christoph Rieger
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