Bond Market Update

Long End Outperforms

• U.S. Treasuries have seen some more buying, which has lifted the long bond into positive territory while the front end has seen a bit more resistance with the 2-yr note sitting closer to its lowest level of the day. All in all, intraday action has unfolded in slow fashion alongside a sideways drift on the equity side, as the market awaits tomorrow's release of the Employment Situation report for November (Briefing.com consensus 200,000; prior 12,000). The report is expected to show a strong rebound in hiring after a weak, weather-impacted, October.
• Yield Check:
  • 2-yr: +4 bps to 4.16%
  • 3-yr: +3 bps to 4.11%
  • 5-yr: +2 bps to 4.08%
  • 10-yr: +1 bp to 4.19%
  • 30-yr: -1 bp to 4.34%