Bond Market Update

Long End Ahead

• U.S. Treasuries have seen a continuation of their slow start to the week, as the market inches back to rebound highs with the long bond now slightly positive on the day while the 10-yr note is on the verge of doing the same. The market's quiet start to the week could continue for a bit given tomorrow's lack of top-tier data, though the U.S. Treasury will kick off this week's note and bond auction slate with a $58 bln 3-yr note offering. Equities remain little changed with the S&P 500 drifting just below its flat line after setting a fresh record high at the open.
• Yield Check:
  • 2-yr: +2 bps to 4.62%
  • 3-yr: +1 bp to 4.40%
  • 5-yr: +1 bp to 4.23%
  • 10-yr: UNCH at 4.27%
  • 30-yr: -1 bp to 4.46%