Bond Market Update

Opening Losses Narrowed

• U.S. Treasuries have inched up off their early lows but they remain in negative territory. Treasuries began the day in the red, marking session lows immediately at the open. However, a rebound attempt developed soon, lifting Treasuries above their starting levels, though they continue trading a bit below their closing levels from Friday. Equities are off to a higher start with the Dow (+0.5%) trading ahead of the S&P 500 (+0.2%) and Nasdaq (+0.2%) after underperforming last week.
• Yield Check:
  • 2-yr: +2 bps to 4.62%
  • 3-yr: +1 bp to 4.40%
  • 5-yr: +2 bps to 4.23%
  • 10-yr: +1 bp to 4.28%
  • 30-yr: +1 bp to 4.48%