This week, the bond market experienced a period of relative calm due to a light economic calendar and successful Treasury auctions. However, this calm might be short-lived as attention turns to next Wednesday’s April CPI release, which is expected to influence market sentiment until the May payroll release on June 7. Currently, ten-year Treasury yields are around 4.50%, and appear to be waiting on convincing evidence that inflation is cooling before breaking materially below this level.
