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By: Jeff Cox
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CNBC.com Senior Writer
The 10-year Treasury is on the cusp of making an important technical formation that could lead to a huge drop in yield and a flight from risk, according to an analysis.
A looming "death cross," in which the 50-day moving average of the benchmark government debt note's yield is about to cross below the 200-day moving average, would have ominous consequences.
That kind of move could see the yield drop below 1 percent and signal a selloff in stocks, corporate bonds and commodities, Abigail Doolittle, technical analyst at the Seaport Group, said in a report for clients.
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