Bonds Pushing Higher
Bonds have been well bid since this morning’s better-than-expected Empire Manufacturing data, and are poised to hang onto those gains as equities hang onto marginal gains into the weekend.
The 30yr is up 19 ticks at 117-16, earlier taking out its July 15 high on its way to 117-21, its highest level since April 15. The 10yr also broke through its month-ago peak above 116 and is currently trading at 116-04, up 10 ticks, after touching 116-14 earlier (also the highest since April 15).