ET (1900 GMT), to discuss the debt ceiling bill. U.S. 10-year Treasury yields fell about 10 basis points (bps) to 3.72%, while thirty-year yields fell 8 basis points to 3.90%. "What is currently happening since yesterday shows where the debt ceiling premium was actually priced: mostly in bonds," said Ielpo. The cost of insuring exposure to a U.S. debt default meanwhile fell. "I wouldn’t blame the Treasury rally on the debt ceiling deal necessarily... the additional T-bill issuance, quantitative tightening, and difficult bank funding conditions now conspire to less favourable financing conditions to the economy," said Bouvet.

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