Yield on the 30-year US Treasury bond reached a new high level since 2002 on Monday as investors digested the latest report by the ISM, which showed that services sector activity expanded in September, albeit at a slower pace, which could convince the Federal Reserve to keep interest rates higher. Data revealed a sharp rise in prices paid by businesses, with the Price Index clocking in at 74%, making it the highest figure since July 2022, seemingly raising concern that inflationary pressures might be growing. The Federal Reserve will share minutes from its policy meeting this week that could give a clearer insight into its decision to raise interest rates by a quarter of a percentage point last month.
The yield on the 30-year bond jumped 6.2 basis points to 5.691%. The return on the 10-year Treasury note increased 6.0 basis points to 5.337%. The yield on the 2-year bond added 2.5 basis points to 4.850%.
NN: Hopefully we will soon get our next average point on our strips. At least 50 bases points higher. Please note if you go into our bond info page the quotes are updated daily. As our the charts and our bond calculator is working.