Bonds & Rates
Treasury yields ease as stocks and credit firm
Rates pull back across the curve while investment-grade, high-yield and muni proxies all edge higher.
Treasuries finish firmer, with yields moving lower across the curve. The 5-year Treasury falls 1.5% to 4.333, the 10-year drops 1.3% to 4.627, and the 30-year declines 0.8% to 5.19.
The move comes with a stronger equity tape and better credit tone. LQD rises 0.6%, HYG gains 0.3%, and MUB adds 0.3%. TLT also edges up 0.8% to 82.82.
The broader rate picture still shows yields well above longer-term averages. The 10-year remains above its 50-day and 200-day moving averages, while the 30-year also stays above both trend lines.
On the macro side, CNBC Economy points to manufacturing inflation worries and surprise gains in import prices. That keeps the bond market focused on the path of inflation even as yields ease on the day.