Looming government shutdown threats hindered the bond markets as concern surrounding heightened funding costs for the government came into focus. Yields on U.S. Treasury bills, notes and bonds rose in September as confidence regarding reaching a compromise diminished. Analysts expect the rise in government debt yields to be short term unless another impasse materializes in mid-November as Congress deliberates the federal budget again. The yield on the 10 year Treasury bond surpassed 4.5% at the end of September, luring investors as equity volatility continued to dampen performance.

Sources: Treasury Dept., Congress.gov

Print Version: Fixed Income Review Oct 2023

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