2-Year T-Note futures rallied as yields fell across curve.
2-Year T-Note futures advanced for a third consecutive session to reach a one-week high as Treasury yields fell across the curve. The upward momentum in bond prices was supported by declining crude oil prices and weaker-than-expected consumer confidence data, which helped ease inflationary concerns. Market participants also digested the results of the 7-Year Treasury auction, which saw a bid-to-cover ratio of 2.49 amid steady participation from direct and indirect bidders. Ahead of tomorrow's FOMC policy announcement, Treasury yields declined 4 to 5 basis points across the curve, with the 2-Year Treasury yield falling 5 basis points to 4.275%.
2-Year T-Note futures advanced for a third consecutive session to reach a one-week high as Treasury yields fell across the curve.
The upward momentum in bond prices was supported by declining crude oil prices and weaker-than-expected consumer confidence data, which helped ease inflationary concerns.
Market participants also digested the results of the 7-Year Treasury auction, which saw a bid-to-cover ratio of 2.49 amid steady participation from direct and indirect bidders.
Ahead of tomorrow's FOMC policy announcement, Treasury yields declined 4 to 5 basis points across the curve, with the 2-Year Treasury yield falling 5 basis points to 4.275%.