services sector: What are Treasurys doing The 2-year note rate TMUBMUSD02Y, 0.00% surged 10.8 basis points to 1.544%, marking its biggest daily increase since February 2015, according to Market Watch. The 10-year Treasury note yield TMUBMUSD10Y, 0.00% climbed 11.3 basis points to 1.569%, marking its biggest one-day rise since November 2016. Improving data on the jobs market and the services sector also helped market participants shake off fears that trade uncertainty would lead the U.S. to an imminent recession. The 30-year bond yield TMUBMUSD30Y, 0.00% rose 10.8 basis points to 2.060%, its biggest daily rise since October 2018. What's driving Treasurys The Chinese Commerce Ministry said that Vice Premier Liu He had talked to Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer over the phone. Bond prices move in the opposite direction of yields.
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