Bond Market Update

Top 'o the Day

• The close of the cash session is approaching at the top of the hour and Treasury yields are combing the top of today's range, which has been fairly expansive as sellers have had control of the market since the overnight session.
• Seeing some notable strength in the dollar today, which is likely a reflection of relative growth prospects that favor the U.S. economy versus other developed economies.
  • The U.S. Dollar Index is up 0.5% to 103.97.
• Higher market rates can arguably be looked at as a pricing out of the hard landing scenario.
• Yield check:
  • 2-yr: +7 bps to 4.02%
  • 3-yr: +9 bps to 3.95%
  • 5-yr: +9 bps to 3.97%
  • 10-yr: +11 bps to 4.18%
  • 30-yr: +10 bps to 4.38%