Bond Market Update

FOMC Ahead

• U.S. Treasuries have inched back to their opening levels as the market awaits the 14:00 ET Statement from the FOMC and Fed Chairman Powell's press conference at 14:30 ET. The 10-yr yield sits just eight basis points above this year's low while the 2-yr yield is eleven basis points above its low from Monday. For the year, the 10-yr yield is down 19 basis points while the 2-yr yield is down 62 basis points. Equities remain little changed with the S&P 500 (+0.1%) up 0.3% for the week and down 0.1% for the month.
• Yield Check:
  • 2-yr: +5 bps to 3.64%
  • 3-yr: +5 bps to 3.50%
  • 5-yr: +4 bps to 3.47%
  • 10-yr: +4 bps to 3.68%
  • 30-yr: +4 bps to 3.99%