Treasuries Have Best Day Since March on Refunding, Fed Path
- US 10-year yield falls almost 20 basis points on the day
- Investors piled in as risks from higher rates, supply eased
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Treasuries enjoyed their best day in more than seven months on signs the Federal Reserve is close to done raising rates, and the US government may not sell as much debt as previously expected.
The benchmark 10-year note rallied, with yields falling almost 20 basis points on the day, the most since March, data compiled by Bloomberg show. Rates on 5- and 7-year Treasuries slumped more than 20 basis points from a day earlier.