Bank of America CorporationUs 10-year Treasury yields will continue to climb as bearish tendencies persist, according to a report.

Paul Ciana, a technology strategist, wrote in a report on Tuesday that it had studied the magnitude, duration, technical shape and momentum of previous trends to support its view that 10-year yields had not yet peaked and investors remained bearish, especially 5-year or even 2-year bonds.

At the same time, the yield on 30-year Treasuries "may peak at 2.24% Mel 2.69% between August 2021 and January 2022".

BofA also said five-year Treasury yields could peak around 1.5 per cent, between April and September.

Two-year Treasurys "face a sharp fall" and "may launch between now and early July".