Bond Market Update

Opening Losses Maintained

• U.S. Treasuries hover just above their opening levels after spending the first couple hours of action in a sideways range. Treasuries slipped out of the gate, but the early weakness did not invite additional selling. Instead, Treasuries established a narrow range with yields up about five basis points across the curve. Equities are off to a higher start with the S&P (+1.1%) trading ahead of the Nasdaq (+0.8%).
• Yield Check:
  • 2-yr: +5 bps to 3.93%
  • 3-yr: +6 bps to 3.77%
  • 5-yr: +5 bps to 3.67%
  • 10-yr: +4 bps to 3.83%
  • 30-yr: +4 bps to 4.11%