Bond Market Update

Longer Tenors Remain Behind

• U.S. Treasuries trade just above their morning lows with longer tenors remaining behind. Treasuries extended their starting losses during the first few minutes of action before spending the next hour in a sideways range. The market received a stronger than expected Consumer Confidence report for August (103.3; Briefing.com consensus 100.0; prior 101.9), which was met with a return to this morning's low. Equities are off to a lower start with the S&P 500 (-0.1%) staying ahead of the Nasdaq (-0.3%).
• Yield Check:
  • 2-yr: +1 bp to 3.94%
  • 3-yr: +2 bps to 3.76%
  • 5-yr: +2 bps to 3.69%
  • 10-yr: +4 bps to 3.86%
  • 30-yr: +4 bps to 4.15%