The long end of the Treasury market is experiencing a kind of gentrification as low yield levels are prompting money to migrate from other markets.

The 30-year bond was up 21/32 to yield 5.89%, the lowest level since 1977 when the Treasury began auctioning bonds on a regular basis. The issue hit 5.85% briefly at midday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.