Bond Market Update

Staying Near Lows

• U.S. Treasuries have not seen much movement in recent trade, which leaves shorter tenors just above their lows while the long bond hovers about 18 ticks above its low that was notched in reaction to solid economic data. In addition to good data, the market received strong quarterly reports from Walmart (WMT 73.13, +4.47, +6.5%) and Deere (DE 376.62, +25.34, +7.2%), which have helped calm some recent concerns about growth. The S&P 500 (+1.4%) has rallied 3.5% this week and is now slightly positive for the month (+0.1%).
• Yield Check:
  • 2-yr: +15 bps to 4.10%
  • 3-yr: +15 bps to 3.91%
  • 5-yr: +14 bps to 3.81%
  • 10-yr: +11 bps to 3.93%
  • 30-yr: +8 bps to 4.19%