U.S. Treasury Yields Ease But Likely to Stay Rangebound
By
Emese Bartha, Dow Jones Newswires
U.S. Treasury yields were declining but remained near recent levels after Wednesday's mixed session, which also saw a soft five-year Treasury note auction, said Pepperstone's Michael Brown in a note.
"For now, it seems that benchmarks are to be stuck in a relatively tight trading band," the senior research strategist says. Dip buying interest—where investors buy in phases of bond weakness—continues to be seen on any downside, he said.
For 10- and 30-year Treasury yields, 4.50% and 5.00% remain the key levels, respectively, Brown said. That said, rallies beyond 4.25% and 4.75%, respectively, seem unlikely, given ongoing jitters over the fragile fiscal backdrop, he said.
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