US Bonds Swing as Dip Buyers Enter After Moody’s-Fueled Selloff

Treasuries whipsawed on Monday, with dip buyers stepping in as a selloff brought on by a downgrade of US debt by Moody’s Ratings sent 30-year yields briefly above 5%.

The 30-year yield slipped two basis points to 4.9% after earlier surging by as nine basis points to 5.03%, the highest since November 2023. Yields of all maturities were slightly lower in New York afternoon trading after wiping out earlier increases. The dollar remained weaker against all of its Group-of-10 peers, after the euro surged more than 1% to $1.1288.