Bond Market Update

Sitting Tight

• The Treasury market is sitting on modest gains, most of which were achieved in overnight action. Now, it's a range-bound market befitting a summer Friday.
• Stocks are dragging today with modest losses for the Dow (-0.4%), Nasdaq (-0.3%), and S&P 500 (-0.4%), and another day of underperformance for the Russell 2000 (-1.7%).
• The euro has been softer today against the dollar with the French election uncertainty weighing on sentiment. EUR/USD -0.4% to 1.0695.
• Yield check:
  • 2-yr: unch at 4.69%
  • 3-yr: unch at 4.43%
  • 5-yr: -1 bp to 4.23%
  • 10-yr: -2 bps to 4.22%
  • 30-yr: -4 bps to 4.36%