Yields rise after Treasury refunding announcement
Demand for safety is the dominant theme in bonds but supply may soon be more of a factor as deficits rise and central banks ease buying.
US 10-year yields are up 3.5 basis points to 2.9952% and touched 3% on some screens (but not mine). This is a six week high but a close here would be the highest since May 22. Of course with the FOMC coming, we're a long way from the close.
