Bond Market Update

Longer Tenors Behind

• U.S. Treasuries have faced some renewed pressure, which has lifted yields toward their morning highs. Longer tenors underperformed from the start, and they were at the forefront of the recent selling, which has lifted the 30-yr yield to a fresh high for the day while the 2-yr yield hovers just below its morning high. Like Treasuries, stocks are in the red with the S&P 500 (-0.6%) widening this week's loss to 1.1% after giving back an opening gain.
• Yield Check:
  • 2-yr: +2 bps to 4.45%
  • 3-yr: +2 bps to 4.22%
  • 5-yr: +3 bps to 4.10%
  • 10-yr: +4 bps to 4.19%
  • 30-yr: +5 bps to 4.41%