Demand for bonds is increasing as investors have a seemingly endless appetite for debt amid signs inflation is cooling and central banks worldwide are slowing their pace of tightening. Yields fell across the yield curve in January with lower yields on shorter and longer-term bonds, in turn elevating bond prices which move higher as yields head lower. Housing was buoyed as the average rate on a 30-year conforming mortgage fell to 6.09% on Feb 2nd, the lowest since September.
Sources: U.S. Treasury, Bloomberg, Freddie Mac
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