Treasury yields drifted higher on Tuesday morning, as U.S. markets reopened following Presidents Day. The yield on the benchmark 10-year Treasury note climbed to 1.27% at around 10:45 a.m. ET, breaking above a the key level of 1.25% for the first time since March 2020. Meanwhile, the yield on the 30-year Treasury bond rose to 2.08%. Yields move inversely to prices. ” Given the fact rates are edging higher on a combination of bearish underpinnings as opposed to a distinct driver, the technical landscape is useful in gauging the extent to which any repricing may extend,” Ian Lyngen, head of U.S. rate strategy at Bank of America Capital Markets told clients.
Source: CNBC – Bonds
