1631 ET - The bonds selloff enters a second day at a slower pace, sending yields to new highs. An auction of seven-year notes has the highest yield for the tenor since April 1993. In a buyback operation of long-term bonds, the Treasury buys only $4.1 billion out of a $6 billion maximum. Indicators keep showing economic resilience while Fed officials reinforce the notion that more rate hikes are in the horizon. August durable goods orders are expected to shrink and University of Michigan consumer sentiment is also seen coming in lower, in WSJ forecasts. The 10-year yield rises 0.050 percentage point to 5.163% and the two-year adds 0.002 point to 4.895%.
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