Reopening concerns surrounding rising, and in some cases record-setting, numbers of infections, hospitalizations, and deaths have hurt equities and helped the Treasury market. Today’s more than half-point move in the price of the Ten-Year has pushed that issue’s yield down to 60 basis points. The Treasury’s 30-year auction also went quite well with a bid-to-cover ratio of 2.5X compared to June’s 2.3X. The highest accepted yield of 1.33% was also significantly lower than the 1.45% that resulted from last month’s sale. FNMA & FHLMC are also making news with the announcement by the Supreme Court that it will review a case involving a suit brought by shareholders of the two mortgage-market giants over profits paid to the Treasury. The case will be heard in the fall when the Court next convenes.