I just saw that the 30-year Treasury bonds had a quite notable move today, rising about 3.1 basis points to 4.9285%.


It's not a huge change, but it’s significant enough to notice that there’s movement in the debt market.

What’s interesting is that the 2-year bonds also moved, though less, rising 1.23 basis points to 3.7737%.
That slightly widened the gap between the short and long curves, with the 2-10 year spread at +52.934 basis points.
It seems there’s some pressure on longer-term bonds.

I also noticed that TIPS, those inflation-linked bonds, moved quite a bit.
The 30-year TIPS rose 4.24 basis points to reach 2.6849%, while the 10-year TIPS increased by 3 basis points.
The 2-year TIPS had a more modest move of 0.51 basis points.
Overall, it looks like the market is recalculating expectations about future inflation.
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