Bond Market Update

Inching Above Opening Levels

• U.S. Treasuries trade a bit above their opening levels with longer tenors continuing to show some relative weakness. Treasuries started the day in the red, but bounced after the latest weekly jobless claims report showed a larger-than-expected increase in initial claims (to 243,000 from 223,000; Briefing.com consensus 225,000). The bounce found resistance quickly, and was followed by a slip to fresh lows, but the rallied from lows to highs during the past 30 minutes while equities started on a modestly higher note.
• Yield Check:
  • 2-yr: +2 bps to 4.45%
  • 3-yr: +1 bp to 4.21%
  • 5-yr: +2 bps to 4.09%
  • 10-yr: +3 bps to 4.18%
  • 30-yr: +3 bps to 4.39%