Bond Market: Treasury Exceeds Monthly Forecast Needs by Nearly 30%

The final auction session of October was characterized by a sustained upward movement in both the primary and secondary segments of the sovereign debt market, according to AGR. This trend is primarily linked to significant financing needs of the Treasury related to its projected maturities for the month. According to the same source, the 2-year maturity appreciated once again by 9 basis points (bps), reaching over 2.6%. Meanwhile, the yield rates on the secondary curve experienced a similar overall trend, with positive variations ranging between 2 bps and 8 bps across all maturities. AGR analysts remain convinced that these adjustments are temporary and do not undermine the underlying downward trend in bond rates observed since the beginning of 2025.