Bond Market Update

Longer Tenors Trim Losses

• U.S. Treasuries have inched up off their late-morning lows, but they remain below their starting levels as they hover near the midpoint of today's range. The recent slip to lows lifted yields on 5s and 10s back to their opening highs from Thursday's session, where the market found some support. Longer tenors underperformed in early action, but they are now slightly ahead. Elsewhere, equities have recovered from a soft start with the S&P 500 (+0.6%) on track for a fresh record closing high.
• Yield Check:
  • 2-yr: +7 bps to 4.75%
  • 3-yr: +7 bps to 4.49%
  • 5-yr: +7 bps to 4.29%
  • 10-yr: +6 bps to 4.28%
  • 30-yr: +6 bps to 4.41%