General Selling Spree Continues
Wed, Mar 11 2026, 5:10 PM
General Selling Spree Continues
It hasn’t exactly been completely direct, but the month of March has usually been a one-way trade for the bond market. In less than 2 weeks, 10yr yields are up from 3.95 to 4.22+ with no justification from econ information. Today was another example as CPI can be found in right in line with forecasts. In spite of that apparently decent news, yields rose progressively throughout the morning, and we can’t really blame oil prices today (even if greater energy costs are presumed to be quite on the bond market’s mind). Newswires the war costing $11bln recently likewise don’t assist, especially on a day where bond traders are already thinking of Treasury supply due to the auction cycle. MBS sold proportionally in the early morning and underperformed in the afternoon, hence producing the highest 30yr rates in over a month and among the most significant day-to-day jumps we’ve seen in a while.
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- m/m CORE CPI (Feb)
- 0.2% vs 0.2% f’cast, 0.3% prev
- m/m Headline CPI (Feb)
- 0.3% vs 0.3% f’cast, 0.2% prev
- y/y CORE CPI (Feb)
- 2.5% vs 2.5% f’cast, 2.5% prev
- y/y Headline CPI (Feb)
- 2.4% vs 2.4% f’cast, 2.4% prev
- m/m CORE CPI (Feb)
08:41 AM
Weaker over night and no reaction to CPI. MBS roughly the same. 10yr yield up 2.5 bps at 4.185
12:37 PM
Weakest levels at twelve noon ET and recuperating a bit since then. 10yr up 4.5 bps at 4.205. MBS 2 ticks (.06) off the lows, however still and 8th below rate sheet print times.
04:28 PM
weakest levels of the day. MBS down more than a quarter point and 10yr up 6.2 bps at 4.22
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