Bond Market Update

Easy Does It

• A slow-going, trading market today with many participants, well, not participating as they continue to adhere to holiday plans that don't include bonds.
• Stocks are in a similar position with neither buyers nor sellers showing much conviction.
• The U.S. Dollar Index is down 0.1% to 108.17, largely because of the euro showing some modest strength. The Japanese yen, on the other hand, continues to weaken against the greenback (USD/JPY +0.4% to 158.01). Traders are keying off recent comments from BOJ Governor Ueda, which left them inclined to think the BOJ will pass on a rate hike at its January meeting. 
• Yield check:
  • 2-yr: +2 bps to 4.36%
  • 3-yr: +2 bps to 4.39%
  • 5-yr: +4 bps to 4.48%
  • 10-yr: +4 bps to 4.63%
  • 30-yr: +3 bps to 4.79%