30yr Fixed Rates Officially Back to 6.50%

Generally Exciting, But Specifically Boring Heading into the present week, it was incredibly unlikely that we'd see any exciting volatility in the bond market this week.  At the very least, we knew that it was really only Friday's PCE data that carried any notable volatility potential. With 4 days down, the "boring" narrative has prevailed.  Like every other day this week, Thursday saw mild movement and low volatility with very little connection between events and market movement. But as it happens, the mild movements have all been in the same direction this week, and they're starting to add up. To wit: 10yr yields just hit their lowest 3pm CME