Was today a bad day for the 10 year treasury?
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KINDA
Kinda — the 10-year yield is up slightly so far, but the day's trading isn't finished.
Why
- Yield was about 4.99% to 5.02% in early trading, up a few basis points.
- Yields rise when prices fall, so higher yields mean a weaker day for holders.
- The Fed decision due today is the main swing factor for the rest of the session.