2-Year T-Note futures fell as resilient data lifted yields.

2-Year T-Note futures faced continued selling pressure, declining in five of the last six sessions to approach recent contract lows at 103'05. This downward price action came amid higher market yields across the fixed income curve, particularly concentrated in the short and belly sections. The 2-Year yield surged 7.5 bps to reach 4.11%, remaining just 1 bp below its recent multi-year high of 4.12%. Macroeconomic catalysts driving the treasury sell-off included a resilient labor market, as weekly jobless claims matched expectations, alongside better-than-anticipated U.S. manufacturing data. Broader inflationary themes and rising crude oil prices further compounded the headwinds facing fixed income assets. While the 2-Year, 3-Year, and 5-Year notes led the daily declines, longer-term yields also moved higher, with the 30-Year yield hovering near its recent peaks.