Bond Market Update

Steeper

• Curve-steepening action persists in today's session with longer-dated maturities underperforming shorter-dated securities.
• 2s10s spread out to 29 basis points versus 25 basis points at yesterday's settlement.
• Key metals futures prices settled today's session mostly lower:
  • GC00-USA gold settled today's session $20.80 lower (-0.8%) at $2,633.20/oz
  • SI00-USA silver settled today's session $0.43 lower (-1.4%) at $29.97/oz
  • HG00 copper settled today's session unchanged (0.0%) at $4.13/lb
• Yield check:
  • 2-yr: -1 bp to 4.32%
  • 3-yr: +1 bp to 4.36%
  • 5-yr: +2 bps to 4.45%
  • 10-yr: +3 bps to 4.61%
  • 30-yr: +5 bps to 4.81%