Fixed Income Close
Bonds closed well off their lows in a choppy trading day that saw equity indices lose more than 1% and the dollar retrace some of its recent hot streak.
The 30yr future closed down 10 ticks at 117-19 while its medium and long-term moving averages converged under price at 115-21. The 10yr behaved similarly but was down only 2 ticks at the day’s end, at 116-10.
On the short end, bills were mixed. The 4wk yield rose 3bps to 1.73%. The 3-month was flat at 1.79%. The 6-month bill yield fell 8bps to 1.92%, while the 1yr yield dropped 2bps to 2.10%.