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Treasury yields hold below 4.82% as oil hits new highs

Despite oil reaching three new highs earlier this month and again this morning, the 10-year yield has stayed capped under 4.82% during the session.

Reported · Written up by our desk · Economy

Mortgage News Daily reports that Treasury bonds remain tightly linked to oil price swings, with a high degree of moment-to-moment correlation driving yields up and down earlier in the day.

The outlet says that after most of the session's dip occurred between 8:20 and 9:10am, both oil prices and bond yields turned back higher.

Still, Mortgage News Daily highlights a more notable point of resilience, saying yields have held under a 4.82% ceiling for the 10-year even as oil posted three new highs on 9/1, 9/3, and again this morning.

The report also notes a likely limit to that resilience if oil continues to spike, but adds that the relative steadiness is mildly encouraging during a week that includes heavy corporate issuance expectations and a Treasury auction cycle.

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