10-Year T-Note futures bounce off lows as yields retreat.

10-Year T-Note futures found stability to trade slightly higher at 106'06 following five consecutive sessions of heavy selling pressure. Early weakness pushed the 10-Year Treasury yield above 5% intraday to 5.02%, its highest level since October 2023, before pulling back to 4.97%. A mid-day pullback in crude oil prices helped ease short-term inflation concerns, spurring buying interest on the long end of the curve. Meanwhile, the yield curve flattened slightly as short-term yields rose 0.5 to 1 bps while long-term yields declined, with traders adjusting positions ahead of Wednesday's Fed rate announcement.