Bonds & Rates
Home›Bonds & Rates›Government Bonds›Oil price spike lifted bond yields as MBS slipped
Oil price spike lifted bond yields as MBS slipped
The story cites a 10-year Treasury yield rising 4.5 basis points to 4.691%, while MBS fell by just over a quarter point.
A Treasury buyback announcement and subsequent comments from Bessent initially drew attention, but Mortgage News Daily says the market impact was short-lived, fading within minutes of the initial release. Instead, the outlet points to an overnight oil price spike as the clearer driver, describing how peaks and valleys in yields aligned with the move.
According to Mortgage News Daily, bond levels also stayed elevated in the background due to ongoing corporate issuance, though it did not create much of an intraday impulse even with an afternoon announcement referencing a large Broadcom bond offering in the pipeline.
The outlet reports weaker overnight conditions, with the 10-year Treasury yield up 4.5 basis points to 4.691%, and mortgage-backed securities down by just over a quarter point.