Bond Market Update

Giving Back

• The 10-yr note yield is pressing its high for the session (4.09%), backing up in the wake of today's encouraging economic data.
• Notably, the Atlanta Fed GDPNow model estimate for Q3 real GDP growth was revised up to 3.4% from 3.2% following the retail sales and industrial production reports.
• The U.S. Dollar Index is +0.2% to 103.81.
• With today's moves, Treasuries have given back just about all the gains they achieved following last week's CPI and PPI reports. The 30-yr bond, which is down one basis point for the week, is the last one standing with a gain this week.
• Separately, Israel Defense Forces have confirmed the death of Hamas leader Yahya Sinwar.
• Yield check:
  • 2-yr: +4 bps to 3.98%
  • 3-yr: +5 bps to 3.90%
  • 5-yr: +7 bps to 3.91%
  • 10-yr: +7 bps to 4.09%
  • 30-yr: +9 bps to 4.39%