Bonds & Rates
Treasury yields climb as the long end leads
Bonds sell off modestly, with the 30-year moving the most among the major benchmarks.
Treasury yields rise across the curve. The 5-year ends at 4.375%, up 0.53%, the 10-year closes at 4.663%, up 0.89%, and the 30-year finishes at 5.208%, up 1.26%.
The move comes against a backdrop of softer risk sentiment in fixed income proxies. LQD rises 0.2%, HYG adds 0.3%, and MUB is essentially flat at minus 0.0%. Even so, both longer-dated yields remain above their 200-day averages, keeping pressure on rate-sensitive assets in view.
CNBC’s bond and economy headlines keep the macro lens on growth and inflation. Reuters reports U.S. economy slowed to a 1.5% growth rate in Q2 and June core inflation at 3.3%, while CNBC also highlights a surprise 0.3% drop in wholesale prices in June on a big drop in gasoline. Those cross-currents help explain why rates stay active even on a strong stock day.