Bond Report: Treasury yields try to climb off 5-week lows

Treasury yields ticked up, and prices staged a modest pullback, after the yield on the 10-year note nearly breached a closely watched technical level.

That move would mark a reversal of the so-called reflation trade seen in the wake of President Donald Trump’s November election victory.

The 10-year Treasury note TMUBMUSD10Y, +1.31% increased 1.7 basis point to 2.340%, around its lowest level since late-February. The 30-year bond yield TMUBMUSD30Y, +1.15% rose 3.0 basis points to 2.985%. Meanwhile, short-term Treasurys edged higher, with 2-year bills TMUBMUSD02Y, +2.60% gaining 0.8 basis point to 1.234%.

Bond prices and yields are inversely related, and one basis point is equal to one hundredth of a percentage point.

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