UST yields rebounded as heavy Treasury and corporate supply intersected with mixed Fed signals, driving 10Y to ~4.15% from ~4.05% while 2Y hovered near ~3.60%, modestly steepening the curve. Investors pointed to renewed inflation concerns and higher term premium as reasons for weakness in the long end, despite expectations for gradual rate cuts ahead. The uptick also reflected issuance-related indigestion, with dealers demanding more concession on new paper and buyers turning cautious. Market focus now shifts to upcoming inflation data and Fed commentary, which will test whether the recent downtrend in yields can resume or if the curve repricing extends further.

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