Bond Market Update

Rally Mode

• The Treasury market has quietly enjoyed a broad-based rally, stimulated it seems by the notion that the world's leading central banks are shifting (or soon will be) to less restrictive policy stances.
• Once again, the dollar is coming under pressure. The U.S. Dollar Index is down 0.4% to 101.51.
  • EUR/USD +0.3% to 1.1116
  • USD/JPY -0.7% to 145.59
  • GBP/USD +0.3% to 1.3031
• Yields are at their lows for the day
• Yield check:
  • 2-yr: -7 bps to 4.00%
  • 3-yr: -7 bps to 3.80%
  • 5-yr: -6 bps to 3.70%
  • 10-yr: -5 bps to 3.82%
  • 30-yr: -5 bps to 4.07%