Bond Market Update

Range-bound

• Treasuries are sticking to a narrow trading range after making most of today's move in the overnight trade.
• EIA weekly crude oil inventories, typically released at 10:30 a.m. ET on Wednesday, will be released at 11:00 a.m. ET on Thursday this week due to the Columbus Day holiday on Monday.
• Stocks are mostly higher, but some weakness in the mega-cap space has kept things in check at the index level. The market cap-weighted S&P 500 is up 0.1% versus a 0.6% gain for the equal-weighted S&P 500. The Russell 2000 (+1.4%) is the best mover, bolstered by continued strength in the bank stocks.
• Yield check:
  • 2-yr: -2 bps to 3.93%
  • 3-yr: -2 bps to 3.84%
  • 5-yr: -2 bps to 3.84%
  • 10-yr: -3 bps to 4.01%
  • 30-yr: -4 bps to 4.29%