Bond Market Update

Opening Advance Reversed

• U.S. Treasuries hold slim losses after backpedaling from session highs that were notched during the first hour of action. Treasuries climbed out of the gate after starting near their flat lines, but resistance was found shorty after the long bond ticked above its intraday high from Friday. The market has spent the past 45 minutes in a slide from highs, which has pressured all tenors into the red, though the losses have been limited so far. Equities are off to a mixed start with the S&P 500 (+0.1%) trading ahead of the Nasdaq (-0.3%) while the Russell 2000 (+0.7%) outperforms notably in the early going.
• Yield Check:
  • 2-yr: +1 bp to 3.92%
  • 3-yr: UNCH at 3.73%
  • 5-yr: +1 bp to 3.66%
  • 10-yr: +1 bp to 3.81%
  • 30-yr: +1 bp to 4.11%