Treasurys

While the tone is still generally upbeat, the market is mired below October's price highs and yields are range-bound. 

Treasuries fell after the US government signaled that larger auction sizes are on the horizon, while signs of economic resilience hurt the odds a Federal Reserve interest-rate cut in December.

Wall Street dealers expect Bessent to signal as soon as Wednesday, when his department releases a quarterly statement on debt sales, that issuance in the $30 trillion Treasury market will keep shifting in that direction.

Treasuries rose, led by short-dated notes, after a reading on wholesale inflation came in weaker than expected, cementing bets that the Federal Reserve will start to cut interest rates next week. 

Investors are anticipating the annual preliminary benchmark revision of US payrolls data. Further signs of softening could further raise expectations for Fed easing.

The US 30-year yield climbed as much as four basis points to 4.999% on Wednesday before stabilizing.

US Treasuries retained most of their recent gains as anticipation of Federal Reserve interest rate cuts held firm after the central bank's preferred gauge of inflation matched economist estimates.

President Donald Trump's unprecedented and escalating attack on the Federal Reserve runs the risk of backfiring by hitting financial markets and the economy with higher long-term borrowing costs.

Treasury bonds jumped, widening the gap between short- and long-term yields to the most in almost four years — a typical reaction to a more dovish Fed.

US Treasuries, coming off their best day so far this year on Friday, held onto most of the move to start a week featuring a heavy slate of note and bond auctions.

Treasuries slipped ahead of a sale of 30-year US bonds that will provide a fresh test of demand for the type of long-dated government debt that has been under pressure globally.

Treasury yields rose Monday led by long-maturity tenors as investors preoccupied with the potential fallout of US tariffs looked ahead to auctions later this week.

Treasuries fell for a second day, pulled lower by a selloff the UK bond market, as traders shifted their attention to a report on the US jobs market on Thursday. 

A rally in short-dated Treasuries gathered pace Thursday after a raft of US economic data on balance favored wagers on as many as three Federal Reserve interest-rate cuts this year.

The Federal Reserve's vice chair for supervision said changes to the supplemental leverage ratio are needed to bolster the Treasury market and ensure banks are not incentivized to take on excessive risks.

The declines on Thursday pushed two- to 10-year yields higher by at least 10 basis points on the day after President Donald Trump urged people to buy stocks based on the latest trade developments.

The "Sell America" trade that gripped markets this month has left a potentially lasting dent in investors' willingness to hold the US government's longest-maturity debt, a mainstay of its deficit-financing toolkit.

Long-maturity Treasury yields tumbled Wednesday as part of a broader rally in dollar-denominated risk assets, after US President Donald Trump said he wasn't inclined to fire the head of the Federal Reserve and suggested tariffs on Chinese imports could drop.

Moody's Corp., a company that grades bonds and analyzes corporations' financial performance, said it expects to earn less this year than it had previously forecast.

Bessent reiterated his interpretation of the decline being mainly a product of deleveraging, saying he had no evidence that sovereigns were behind the drop.