Bonds

Yields on both 10-year and 2-year Treasurys moved significantly higher after the Trump election victory and that's bad news for mortgage rates going forward.

A measure of daily yield swings is at its highest in a year as traders position for further losses that could send 10-year yields as high as 4.5% over the next three weeks.

Since the first SLL was arranged roughly seven years ago, the market for such loans has grown to almost $1.8 trillion.

Buybacks of Treasuries that are infrequently traded relative to its newest, or "on the run," notes and bonds, are intended to support market resilience by creating opportunities for dealers to offload them.

Traders are pricing in roughly 20% odds that the Fed holds rates steady in either November or December.

The strong jobs report had traders shredding their aggressive bets for outsized rate cuts at the next policy meeting.

Goldman Sachs Group Inc.'s Luke Gillam and Bank of America Corp.'s Murad Khaled, set to join AlbaCore Capital and Apollo Global Management, are the latest in a growing list of top bankers to make the leap.

Five-year notes were the worst performer among Treasury benchmarks, with yields rising by more than 5 basis points, though all rose by at least 4 basis points.

Investors began pulling funds rapidly after it disclosed last month the departure of Chief Investment Officer Ken Leech amid Justice Department and Securities and Exchange Commission probes into its trading practices.

Bonds and stocks are rallying ahead of a critical Fed meeting. But this time, the central question for Chair Jerome Powell is which approach — reducing rates by 25 basis points or 50 basis points.