Bonds & Rates
Treasury yields push higher as bond funds sag
Longer rates move up again, while broad bond proxies drift lower.
Treasury yields finish higher across the curve. The 5-year Treasury rises 0.9% to 4.614%, the 10-year climbs 0.65% to 4.837%, and the 30-year adds 0.42% to 5.286%. All three yields remain above their 200-day averages.
The move does not help bond funds. LQD slips 0.16%, HYG edges down 0.18%, MUB falls 0.52%, and TLT loses 0.57%. VBTLX also drops 0.11%.
The Treasury move arrives alongside a busy macro backdrop in the headlines. Reuters says the Treasury Department plans to buy back up to $6 billion in Sept. 10 buybacks, and CNBC reports that the Treasury Department is set to buy back up to $6 billion in longer-term debt, triple the normal level.