Bonds & Rates
Treasury yields ease after a choppy rate backdrop
Longer yields move lower on the day even as the weekly mortgage rate ticks up.
Treasury yields finish lower across the curve in the market data. The 2-year yield is 4.21%, up from 4.19% the prior day, while the 3-month Treasury is 3.87%, up from 3.86%.
The 5-year Treasury yield falls 0.9% to 4.269, the 10-year drops 0.7% to 4.539, and the 30-year slips 0.2% to 5.053. Credit proxies are steady to slightly firmer, with LQD up 0.0%, HYG up 0.1%, and MUB up 0.0%.
Official spread data is quiet. IG corporate spread holds at 0.76%, while the HY corporate spread widens to 2.7% from 2.67%. The 30-year fixed mortgage rate rises to 6.49% from 6.43% a week earlier.
The bond picture still sits above longer-term trend levels, with the 5-year, 10-year, and 30-year all above their 200-day moving averages.