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10-year yields briefly hit 4.75%, then retreated

After the brief move, 10-year yields were around 4.74%, while mortgage-backed securities fell by about an eighth of a point.

Reported · Written up by our desk · Government Bonds

Mortgage News Daily reports that Tuesday was relatively quiet for rates trading, but 10-year Treasury yields briefly visited 4.75% before giving back some of the move.

The outlet said the timing, with the push occurring after 9:30 a.m. ET, highlighted a “dip buyer” mindset among retail investors, but it noted there were no obvious catalysts or scheduled data driving the rest of the session.

Looking ahead, Wednesday was described as similarly light on scheduled events, with only the Fed Minutes release due at 2:00 p.m. ET.

By the latest update, Mortgage News Daily put 10-year yields up about 1.8 basis points to roughly 4.74%, while mortgage-backed securities were down about an eighth of a point.

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