2s10s closes at -70bps

3 сент. 2023 г.

Stocks experienced volatility following the release of JOLTS data last Tuesday, while equities showed mixed reactions to the NFP figures released on Friday. However, the Treasury market, particularly the 30-year Treasury bond, saw more significant movements. The 30-year bond's yield initially dropped to 4.18% but rebounded above 4.3% after traders analyzed a slew of economic data released on Friday. This data included a strong ISM Services report with robust Employment and Prices Paid components. As a result, the yield curve flattened, with the rate difference between the 2-year and 10-year notes narrowing to just under -0.7 percentage points.