Bonds & Rates
Treasury yields stay pinned near the highs
The yield curve remains elevated, while credit and bond proxies stay under pressure.
Treasury yields keep pushing higher. The 5-year ends at 5.007%, the 10-year at 5.184%, and the 30-year at 5.504%. All three sit above their 50-day and 200-day moving averages.
That keeps pressure on bond-sensitive assets. TLT slips 0.1%, and the broad bond fund VBTLX falls 0.5% to 9.26. Munis, via MUB, drop 0.4% to 101.17.
Credit is softer too. LQD rises 0.1% but remains below its 50-day and 200-day averages, while HYG falls 0.0% and sits below both of its longer moving averages.
The day’s bond news flow stays focused on rates. CNBC highlights the jump in Treasury yields, and FXStreet notes the 30-year bond hitting a 22-year high.
Further reading
CNBC EconomySwitzerland is keeping rates at 0% , for now