Bond Market Update

Fresh Highs Set

• U.S. Treasuries have inched up to fresh session highs in recent action after rising out of a sideways range that was in effect through the bulk of the morning. Longer tenors underperformed at the start, and they remain a bit behind at this juncture, but the entire complex has risen steadily over the better part of the past three hours. However, even with the recent advance, longer tenors remain on track for a lower finish to the week with the 10-yr yield up nine basis points for the week while the 2-yr yield is still up one basis point since last Friday's settlement.
• Yield Check:
  • 2-yr: -6 bps to 3.94%
  • 3-yr: -5 bps to 3.86%
  • 5-yr: -4 bps to 3.88%
  • 10-yr: -3 bps to 4.07%
  • 30-yr: -1 bp to 4.38%