Bond Market Update

Early Losses Widened

• U.S. Treasuries trade just above their lows after widening their starting losses. Treasuries followed their lower open with a quick extension of their losses even though this morning's batch of data disappointed across the board. The post-data selling drove yields back to their highs from Monday while the past few minutes have seen a small bounce. Equities are off to a modestly higher start with the S&P 500 (+0.3%) and Nasdaq (+0.3%) displaying comparable gains.
• Yield Check:
  • 2-yr: +4 bps to 4.74%
  • 3-yr: +5 bps to 4.48%
  • 5-yr: +6 bps to 4.29%
  • 10-yr: +6 bps to 4.28%
  • 30-yr: +6 bps to 4.41%