It’s been a choppy month two weeks in the bond market but traders will get a better sense of the underlying demand when the Treasury Dept sells $24 billion 10-year notes at the top of the hour.

The notes are trading at 2.800% in the when issued market, which is a long way from the 2.57% lows at the start of the month.

US 10 year yields

US 10 year yields, hourly