Bond Market Update

Early Gains Padded

• U.S. Treasuries trade near their highs after adding to their opening gains. The market has stayed on an upward path since starting the session near yesterday's opening levels. The long bond is maintaining its early relative strength while the 2-yr note holds a slimmer gain. Equities are off to a flat start with the S&P 500 (+0.1%) on course to surrender 0.4% for the week while the Nasdaq (+0.1%) and Russell 2000 (-0.3%) are down a respective 0.6% and 1.5% since last Friday.
• Yield Check:
  • 2-yr: -2 bps to 4.02%
  • 3-yr: -3 bps to 3.85%
  • 5-yr: -5 bps to 3.78%
  • 10-yr: -6 bps to 3.93%
  • 30-yr: -7 bps to 4.22%