10-Year Note futures are finding higher price levels for a second consecutive session after rallying off recent six-week lows, moving the contract back into the middle of its recent range. The current price is near 112'29 and is holding higher despite trading slightly off the intraday high. Contributing factors include weaker-than-expected consumer sentiment data and carryover from yesterday's job opening data. The 10-Year yield is down 1 basis point to 4.08%. There is a shifting dynamic in the yield curve, which is steepening as the front of the curve is rallying (yields for the 1-Year and 2-Year are moving lower by 1.5 to 2 basis points), while the back of the curve (20-Year and 30-Year) is selling off, with yields moving higher by 1 to 1.5 basis points.
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