US Long Bond Rises Two Points as Yields Fall 19 Basis Points
The US long bond gained two full points overnight, while yields fell 19 basis points, their largest daily decline since early 2023. Fed funds futures also rallied.
The US long bond gained 2 full points in price overnight, an uncommon move. Ten-year yields fell 19 basis points, marking their largest daily move since early 2023, when Silicon Valley Bank collapsed. Fed funds futures also rallied.