Treasury yields kept falling after an auction of 7-year notes saw solid demand.
Bond auctions have drawn heightened attention from Wall Street as rising yields began to catch the stock market’s attention last week. But for the 7-year note auction, buyers accepted a yield of 4.19%, a sign of solid demand.
Peter Boockvar, chief investment officer at Bleakley Financial Group, writes that bond yields fell to their lows of the day in response. Stocks also picked up steam. The 10-year yield was down to 4.43%.