Bond Market Update

Opening Losses Maintained

• U.S. Treasuries trade near their lows after a sideways start to the midweek session. Treasuries followed their lower start with a bounce attempt, but resistance was found well before the market reached yesterday's closing levels. Treasuries have made it back to their lows in recent action with the belly showing some relative weakness after the New Home Sales report for August (716,000; Briefing.com consensus 695,000) beat expectations. Equities are off to a slightly higher start with the S&P 500 (+0.1%) trailing the Nasdaq (+0.4%).
• Yield Check:
  • 2-yr: UNCH at 3.55%
  • 3-yr: +3 bps to 3.48%
  • 5-yr: +4 bps to 3.52%
  • 10-yr: +4 bps to 3.78%
  • 30-yr: +4 bps to 4.13%