Bonds & Rates
Treasury yields drift lower as volatility cools
Rates ease across the curve, while credit and muni funds are mostly flat to slightly firmer.
Treasury yields edge down across the curve. The 5-year closes at 4.324%, the 10-year at 4.617% and the 30-year at 5.174%.
The move comes with a softer volatility backdrop, as the VIX and VIX 9-day both fall sharply. Credit proxies are calm rather than dramatic, with LQD down 0.0%, HYG down 0.0% and MUB up 0.1%.
Rate-sensitive ETFs are mixed. TLT rises 0.2%, while VBTLX gains 0.3% and VWELX adds 1.1%.
The curve still sits above its longer-term trend on the Treasury benchmarks listed here, with the 5-year, 10-year and 30-year all above their 200-day moving averages.