Bond Market Update

Hanging Onto Gains

• U.S. Treasuries trade at their best levels of the session after overcoming some post-CPI volatility. Treasuries faced immediate pressure after the CPI report showed in-line CPI (0.2%) and Core CPI (0.2%), but the market bounced over the next 90 minutes, returning into positive territory. Equities are off to a soft start with the S&P 500 (-0.1%) trading a step ahead of the Nasdaq (-0.4%).
• Yield Check:
  • 2-yr: -1 bp to 3.93%
  • 3-yr: -2 bps to 3.74%
  • 5-yr: -3 bps to 3.65%
  • 10-yr: -3 bps to 3.82%
  • 30-yr: -4 bps to 4.12%