Bond Market Update

Trying to Bounce

• U.S. Treasuries continue showing losses in the 10-yr note and shorter tenors after a failed attempt at an opening bounce. The market started the day just below yesterday's closing levels before a half-hearted attempt at a rebound, which ran out of steam shortly after the market turned positive. The past 30 minutes have seen a return toward opening lows while equities are trying to recover their starting losses, though the S&P 500 remains down 0.3% while the Nasdaq (-0.1%) outperforms.
• Yield Check:
  • 2-yr: -1 bp to 4.02%
  • 3-yr: UNCH at 3.95%
  • 5-yr: UNCH at 3.98%
  • 10-yr: UNCH at 4.18%
  • 30-yr: -1 bp to 4.48%