Bond Market Update

Opening Gains Maintained

• U.S. Treasuries continue holding near their starting levels after the release of a pre-Thanksgiving deluge of data. The reports included an unrevised second reading of Q3 GDP (2.8%), a dip in weekly jobless claims (to 213,000 from 215,000), and below-consensus growth in Durable Orders for October (0.2%; Briefing.com consensus 0.4%). There is still potential for some post-data volatility when the Bureau of Economic Analysis releases the Personal Income/Outlays report for October at 10:00 ET, which will contain the Fed's preferred inflation gauge.
• Yield Check:
  • 2-yr: -4 bps to 4.21%
  • 3-yr: -6 bps to 4.16%
  • 5-yr: -7 bps to 4.13%
  • 10-yr: -5 bps to 4.25%
  • 30-yr: -4 bps to 4.44%