U.S. Treasury yields ticked higher in Monday as investors gauged the sustainability of last week’s bond market rally that took the 10-year Treasury rate briefly below 1.60%.

What are Treasurys doing?

The 10-year Treasury note yield
TMUBMUSD10Y,
1.639%

was up 2.8 basis points to 1.599%, while the 2-year note rate
TMUBMUSD02Y,
0.157%

was steady at 0.159%.

The 30-year bond yield
TMUBMUSD30Y,
2.362%

gained 3.3 basis points to 2.293%.

Bond prices move inversely to yields.

What’s driving Treasurys?

Bonds gave up some of their bid at the start of the week, with the 10-year Treasury yield near 1.60%.

But Monday proved a quiet session for bond traders, with little economic data due for release. In addition, Federal Reserve officials are in a media blackout period before the central bank’s policy meeting on April 28.

After Monday’s…

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