The U.S. Department of the Treasury's 10-year par rate returned to 5% Friday, Oct. 23, after a sharp one-day drop, while the Nasdaq Composite edged lower in a split session for bond and stock benchmarks.
The Treasury series placed the rate at 5.00%, up from 4.96% Thursday. The four-basis-point rebound partially reversed Thursday's 17-basis-point decline, when the measure fell from 5.13% Wednesday. The rate nevertheless remained 13 basis points below its Wednesday level.
The Nasdaq Composite ended at 25,955.34, down 53.52 points, or 0.2%. It had dropped 694 points, or 2.6%, to 26,008.86 on Thursday. EconoTimes previously covered Thursday's 10-year par-yield decline during the technology-stock selloff.
At about 3:30 p.m. ET, Treasury uses indicative bids to calculate a par rate through interpolation. The result is a benchmark series rather than a live quote on any particular 10-year note.
