Bond Market Update

Narrow Range Maintained

• U.S. Treasuries continue trading in flat fashion with the trading range narrowing considerably over the past couple hours. Treasuries followed their initial climb with a pullback that found support once the market turned red around the start of the Wall Street session. Treasuries made another bounce attempt over the next hour, but resistance showed up below this morning's highs, returning action to little changed. Equities are still mixed with the S&P 500 (-0.2%) joining the Nasdaq (-0.8%) in the red while small caps remain ahead, keeping the Russell 2000 (+0.4%) in positive territory.
• Yield Check:
  • 2-yr: +1 bp to 3.92%
  • 3-yr: UNCH at 3.73%
  • 5-yr: UNCH at 3.65%
  • 10-yr: UNCH at 3.80%
  • 30-yr: UNCH at 4.10%