US Treasuries are on track to end September with a historic fifth-straight monthly gain, marking the longest winning streak since 2010. Treasury prices have risen for five consecutive months, with the September index return at 1.2% and year-to-date return at 3.8%. The US10Y declined for a fifth consecutive month, reaching weekly lows. Additionally, US high-yield (HY) bonds are also headed for their fifth month of consecutive gains, the longest streak in more than three years. CCC-rated bonds are outperforming, up 4.3% for the month, and September has seen the busiest new issuance in three years, up 46% year-over-year.