US Treasuries Retreat amid Concern over Foreign Demand — TradingView News

US Tsys opened in recovery mode, relieved when Apr CPI rose 2.3% y/y, and Core CPI rose 0.2%, less than 0.3% expected. But at midday, prices hit an air pocket. 2Y yield got to 4.037%. 10Y hit high yield of 4.508%, cheaper than level reached in April, due to fears of ebbing foreign buying – a crucial element in funding huge US deficit. 30Y bond reached high yield of 4.953% — has been much speculation 5.00% could trigger tech sales. Some cited FT story that foreigners were large buyers of Japanese assets in Apr as dollar plunged. Oil price jump also factor given economic/inflationary aspects. Oil began day at 61.65/bbl, reached high $63.90/bbl. Markets also watching US budget negotiations and supply implications. At 15:00E, prices near lows of day, a poor sign. 2Y at 4.027% vs 4.008% Mon. 10Y at 4.506% vs 4.463%. 30Y at 4.950% vs 4.891% Mon. 2/10Y curve +47.3 bps vs +45.5 bps. 2/30Y curve +91.8 vs + 88.3