October 21, 2025
Yields flat as shutdown continues
Over in bond land, Treasury yields are unchanged before the opening bell Tuesday as the U.S. government shutdown has now entered its 21st day. Investors are looking forward to today’s economic data from the Federal Reserve Bank (Fed) of Philadelphia. As of 6:56 AM ET, the yield on the 10-year note is unchanged at 3.98%, while the 30-year bond yield is also unchanged at 4.57%. The yield on the two-year note, which is more sensitive to changes in monetary policy, is unchanged at 3.46%.
Treasury yields were mostly lower on Monday as concerns over trade tensions with China eased following comments from President Donald Trump. The yield on the 10-year note was down three basis points (0.03%) to 3.98%, while the 30-year bond yield fell four basis points (0.04%) to 4.57%. The yield on the two-year note was unchanged at 3.46%.
On the data front, the Philadelphia Fed will release their October Nonmanufacturing Business Outlook Survey.
In the auction space, the U.S. Treasury is set to issue $95 billion in six-week bills.
Municipal Market Commentary
None at this time.
This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Wells Fargo Advisors. Additional information available by request.
This content includes material generated with the assistance of artificial intelligence.
Wells Fargo Advisors is registered with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, but is not licensed or registered with any financial services regulatory authority outside of the U.S. Non-U.S. residents who maintain U.S.-based financial services account(s) with Wells Fargo Advisors may not be afforded certain protections conferred by legislation and regulations in their country of residence in respect of any investments, investment transactions or communications made with Wells Fargo Advisors.
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.