Was today a bad day for bonds?
Checking
KINDA
Mixed — the 2-year yield rose 3.4 bps on a weak $69B auction, while the 10-year and 30-year yields actually fell.
Why
- 10-year yield at 4.99%, down from an earlier poke above 5%
- 30-year yield fell 1.4 bps to 5.30%
- 2-year auction indirect bidders 45.7%, lowest since 2022