Bond Prices Hold Higher

U.S. Treasury prices resumed the push higher after briefly trimming early gains following lower import and export price data with the 10-year leading as futures buyers chased the market and pushed the yield through 2.27%. The majority of the curve is flirting with key technical levels and heading into territory last seen at the end of June. The housing data fell well-below expectations with the National Association of Home Builders’ (NAHB) housing market index at 64 versus the 68 expected and along with downward revisions to 66 from a downwardly revised 66 (was 67) in June.

The 30-year yield recently traded near the 2.858% low from an overnight 2.9026% high and 2.893% close Monday. The 10-year yield was pushing new lows at 2.266% from a 2.3162% high and 2.309% close. The five-year yield was chopping near the 1.8196% point from a 1.8146% low, 1.8595% high and 1.853% close. The two-year yield was near 1.352% from a 1.3355% low, 1.3722% high and 1.36% close.