Bond Market Update

Rising off Lows

• U.S. Treasuries have risen off their worst levels of the session that were reached just as the equity market opened for the day at 9:30 ET. The early selling drove yields toward their highs from Monday while the past three hours have seen a slow rise off lows. However, even with the bounce, Treasuries remain well below their starting levels with yields up about five basis points across the curve. Elsewhere, equities have seen some recent pressure, which sent the S&P 500 (-0.2%) and Nasdaq (-0.6%) into negative territory after both indices set fresh record highs during the first few minutes of today's session.
• Yield Check:
  • 2-yr: +4 bps to 4.74%
  • 3-yr: +4 bps to 4.47%
  • 5-yr: +5 bps to 4.28%
  • 10-yr: +5 bps to 4.27%
  • 30-yr: +5 bps to 4.40%