US 10-year yields turn higher, easing earlier decline

<p>US 10-year yields are now 0.1 basis points higher on the day at 4.55%. Earlier, they had fallen as low as 4.48% but have now turned around, despite the pain in equity markets.</p><p>These moves in bonds are deeply troubling.</p><p>What I (and many) expected coming into this week was buying in bonds due to quarter-end rebalancing. Instead, the wave of supply that begins with today's 2-year auction appears to be winning out. In addition, the <a href="https://www.forexlive.com/centralbank/feds-kashkari-sees-a-40-chance-of-further-rate-hikes-perhaps-significantly-20230926/" target="_blank" rel="follow">comments </a>from Kashkari have the market worried about materially higher Fed funds.</p>

This article was written by Adam Button at www.forexlive.com.