Treasuries Gain as US Government Shutdown May Follow Month-End
Pedestrians walk past the US Treasury building in Washington.
Photographer: Ting Shen/BloombergTreasuries gained Monday, supported by a slump in oil prices and a rally in UK government bonds, and by anticipation of buying into Tuesday’s month-end index rebalancing.
Yields declined as much as five basis points across tenors with the 10-year note’s falling to 4.14%. The 30-year bond’s dipped below 4.70% for the first time since Sept. 18. US benchmark crude oil futures dropped more than 4% on signs OPEC+ will hike production again in November.