Bonds & Rates
Treasury yields push higher across the curve
Government debt sells off as yields rise on the 5-year, 10-year, and 30-year.
Treasury yields move up across the curve. The 5-year closes at 4.507, up 2.5% on the day, the 10-year rises 1.8% to 4.758, and the 30-year gains 1.1% to 5.249.
Bond proxies are softer. LQD falls 0.5%, MUB slips 0.3%, and TLT loses 0.7%. HYG is nearly flat, down 0.1%, which leaves credit broadly steadier than government bonds.
The rate move comes alongside a lot of market chatter about the Fed and inflation. The provided headlines point to concerns about a hotter policy backdrop, but the price action itself is simple: yields are higher, bond prices are lower.
In funds, VBTLX dips 0.1% while the Vanguard Total Stock Market and S&P 500 index funds both post gains, underscoring how equities still hold up better than long-duration fixed income on the day.