Bond Market Update

Defending Gains

• U.S. Treasuries have inched down from session highs that were reached in immediate reaction to Fed Chairman Powell's remarks from the Jackson Hole Economic Symposium. While the market has backtracked during the past three hours, Treasury yields remain well below their opening levels, putting the market on track for a higher finish to the week. Barring a volatile finish, the 2-yr yield is on course to surrender 13 basis points for the week while the 10-yr yield is down seven basis points from last Friday's settlement.
• Yield Check:
  • 2-yr: -7 bps to 3.94%
  • 3-yr: -6 bps to 3.76%
  • 5-yr: -6 bps to 3.67%
  • 10-yr: -4 bps to 3.82%
  • 30-yr: -3 bps to 4.10%