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UST yields saw mixed moves as the 10Y yield eased slightly to ~4.10% (–5bp from prior session) amid softer job data and lingering shutdown risk, while 2Y held near ~3.55%, keeping the curve modestly steeper. Heavy Treasury and corporate issuance exerted headwinds, especially at the long end, preventing more aggressive declines. The market’s “bad news = good news” trade regained traction after weak ADP and housing cues, but reluctance to dive deeper in long duration suggests investors remain wary of inflation persistency and fiscal uncertainty. With shelter inflation sticky and term premium under pressure, attractive pricing levels may be elusive unless upcoming CPI and PCE data confirm disinflation momentum.