MW: Treasurys edge up as lawmakers work on debt deal
By Ben Eisen
NEW YORK (MarketWatch) -- Treasury prices moved higher Friday as U.S. lawmakers worked toward a solution to extend the nation's borrowing ability. The benchmark 10-year note 10_YEAR -0.93% note yield, which moves inversely to price, fell 2 basis points to 2.665%. The 30-year bond 30_YEAR -0.78% yield fell 2.5 basis points to 3.710%, while the 5-year note 5_YEAR -0.49% fell a basis point to 1.416%. Republicans have proposed a six-week hike to the debt limit that would push back the date at which the government would hit the ceiling on its borrowing ability. Short-term Treasury bills most at risk of a missed payment due to the debt ceiling hike pushed back that risk beyond the current deadline of October 17 to raise the debt limit. The yield on October 17 bills traded lower at 0.286%, after closing as high as 0.451% on Wednesday, according to Tradeweb. The yield on November 29 bills rose over 5 basis points to 0.177% on Friday.
