Bond Market Update

Opening Range Maintained

• U.S. Treasuries remain near their starting levels after a sideways start to the session. Treasuries opened the day with slim losses in shorter tenors and modest gains in longer tenors, and the lack of economic data has kept the early range limited to just a few ticks. The early movement leaves the 10-yr note near its opening level from Friday while equities are off to a strong start as they look to rebound from a volatile week. The Nasdaq (+1.3%) is ahead of the S&P 500 (+0.7%) while the Dow trades little changed.
• Yield Check:
  • 2-yr: +1 bp to 4.52%
  • 3-yr: +1 bp to 4.29%
  • 5-yr: -1 bp to 4.16%
  • 10-yr: -2 bps to 4.22%
  • 30-yr: -3 bps to 4.42%