Bond Market Update

Short End Maintains Lead

• U.S. Treasuries continue holding gains with the long bond trading just below its morning high while shorter tenors reached fresh highs during the past hour. Today's advance has unfolded in steady fashion with shorter tenors leading the market higher after underperforming in recent days. However, thanks to today's gains the 2-yr yield is now flat for the week while yields on 10s and 30s are up a respective two and three basis points for the week. Elsewhere, equities have faced some light pressure, though the S&P 500 remains near its flat line while the Nasdaq (-0.2%) underperforms.
• Yield Check:
  • 2-yr: -5 bps to 3.57%
  • 3-yr: -6 bps to 3.48%
  • 5-yr: -5 bps to 3.51%
  • 10-yr: -4 bps to 3.75%
  • 30-yr: -3 bps to 4.10%