Treasury futures held steady as 10-Year note yields opened the week higher, settling at 4.33 after testing a tight range between 4.30 and 4.35. This close marked the highest yield level observed since March 30. Market participants balanced an early focus on incoming supply with key macroeconomic data points, central bank meetings, and ongoing geopolitical developments.
Despite the upward movement in yields, the CVOL index indicated that volatility opened the week roughly unchanged following a higher close in the previous week. Looking forward, markets prepared for a busy Tuesday featuring the ADP employment report and consumer confidence metrics, followed by additional supply from a two-year floating rate note auction and a seven-year note auction.