Bond Market Update

Longer Tenors Defend Gains

• Recent action saw the long bond return to its opening high while shorter tenors remain closer to their intraday lows. The 30-yr bond is the only tenor that has expanded today's range while other tenors remain inside a range that was established during the first few minutes of action. Thanks to today's rally, the 30-yr yield is on track for its lowest settlement in three weeks while the 10-yr yield is revisiting its closing level from Thursday.
• Yield Check:
  • 2-yr: +2 bps to 4.47%
  • 3-yr: +1 bp to 4.24%
  • 5-yr: -2 bps to 4.12%
  • 10-yr: -4 bps to 4.19%
  • 30-yr: -6 bps to 4.40%