Bond Market Update

Yields lower now

• Treasuries have recovered the ground they lost in the early going and then some. Thin trading conditions might have helped the swing reversal, yet the well-received 7-yr note auction played a role as well.
• The 10-yr note yield visited 4.64% after the initial jobless claims report, but faded to 4.62% in front of the auction. It now sits at 4.57%.
• Futures prices for key metals all settled higher today:
  • GC00-USA gold settled today's session $19.10 higher (+0.7%) at $2,654.00/oz
  • SI00-USA silver settled today's session $0.11 higher (+0.4%) at $30.40/oz
  • HG00 copper settled today's session $0.02 higher (+0.5%) at $4.13/lb
• Yield check:
  • 2-yr: -1 bp to 4.33%
  • 3-yr: -2 bps to 4.35%
  • 5-yr: -1 bp to 4.43%
  • 10-yr: -2 bps to 4.57%
  • 30-yr: unch at 4.76%