Bond Market Update

2-Yr Note at Three-Month High

• U.S. Treasuries trade near their best levels of the session after building on their morning gains. Treasuries backpedaled from their post-NFP highs over the next 90 minutes before renewed buying interest drove action past today's morning highs. With today's advance, the entire complex is on track to finish the week in positive territory, but more notably, the rally has sent the 2-yr note to levels last seen at the start of April. The 2-yr yield is now down ten basis points for the week while the 30-yr yield is down two basis points from last week's settlement.
• Yield Check:
  • 2-yr: -10 bps to 4.62%
  • 3-yr: -9 bps to 4.40%
  • 5-yr: -9 bps to 4.23%
  • 10-yr: -7 bps to 4.28%
  • 30-yr: -4 bps to 4.48%