US Treasury yields fall over 30 basis points across October

A roughly 30-basis-point decline across both maturities points to a repricing of the rate path rather than a pure duration trade, since the front end moved almost as much as the long end. That matters for rate-sensitive crypto and RWA yield products, where Treasury benchmarks anchor pricing and carry. The wide October ranges suggest conviction was thin on both sides. Whether the move extends or reverses is the open question, and the next data prints will be the test.