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Treasury yields edge lower after softer PPI lifts bond demand
The 10-year Treasury yield fell about 3 basis points to 4.666%, while mortgage-backed securities rose an eighth by the close.
Mortgage News Daily reports that Thursday’s bond session was relatively straightforward, with yields moving lower after a series of supportive macro signals and energy price moves.
The outlet said yields first fell modestly overnight as oil prices dipped, then dropped more sharply following cooler-than-expected PPI data.
By midday, volatility tied to fuel prices sparked a slight pullback, but traders still pushed prices higher into the close.
Mortgage News Daily added that mortgage-backed securities gained an eighth and the 10-year Treasury yield was down 3 basis points at 4.666%, even though yields remain broadly sideways near long-term highs.