Bond Market Update

Opening Gains Extended

• U.S. Treasuries have added to their early gains, having spent the first hour of trade in a steady rise. The early advance has lifted all tenors, though the long end is showing some relative strength. Equities, meanwhile, opened the day on a positive note with the S&P 500 (+0.3%) extending this week's advance to 0.7%. The benchmark index is on track to gain 5.4% for November while the Russell 2000 (+0.6%) outperforms in early trade, padding its November gain to 10.5%.
• Yield Check:
  • 2-yr: -3 bps to 4.18%
  • 3-yr: -4 bps to 4.12%
  • 5-yr: -4 bps to 4.07%
  • 10-yr: -5 bps to 4.20%
  • 30-yr: -5 bps to 4.38%