US Treasurys are rallying on Monday after sellers attempted to drive prices down to last week’s lows, but failed.

Buying has yields down close to 7 basis points in the belly of the curve as they push to fresh session lows into the noon hour. Here’s a look at the scoreboard as of 11:59 a.m. ET:

    2-year -3.4 bps @ 1.218% 3-year -4.8 bps @ 1.547% 5-year -6.0 bps @ 2.006% 7-year -7.2 bps @ 2.331% 10-year -6.3 bps @ 2.529% 30-year -6.0 bps @ 3.114%

The benchmark 10-year yield reached 2.64% late last week, but struggled to get back above the 2.60% level in early US trade. Despite Monday’s drop in yield, the 10-year remains on track to post its first bullish outside year (When the yield closes above last year’s high after its low traded below last year’s) since the bond bull market began in 1981, according to Jon Krinsky of MKM Partners.

Monday’s bid hasn’t really had an impact on the yield curve as the 5-30-year spread holds at 111 bps.

10Y

Foto: source Investing.com