Bond Market Update

Early Losses Widened

• U.S. Treasuries trade on their lows after widening their initial losses. Treasuries attempted to bounce off their starting lows, but they quickly found selling pressure that has sent yields on 10s and shorter tenors to fresh highs for the week. The pullback comes after Treasuries ended the Wednesday session at their highest levels of the month. Equities started the day in positive territory before reversing with the Dow (-0.4%) showing early weakness after outperforming in recent days.
• Yield Check:
  • 2-yr: +3 bps to 4.49%
  • 3-yr: +2 bps to 4.25%
  • 5-yr: +6 bps to 4.17%
  • 10-yr: +6 bps to 4.25%
  • 30-yr: +5 bps to 4.46%