Bond Market Update

Opening Levels Revisited

• U.S. Treasuries are back near their starting levels after seeing some volatility in immediate reaction the August jobs report, which missed headline expectations. Treasuries climbed past their August highs after the report crossed the wires, followed by a pullback that found support once the market made a brief appearance in the red. Shorter tenors have been at the forefront of today's advance and they remain in the lead while equities are struggling in the early going with the S&P 500 (-0.8%) widening this week's loss to 3.4%.
• Yield Check:
  • 2-yr: -5 bps to 3.70%
  • 3-yr: -5 bps to 3.57%
  • 5-yr: -4 bps to 3.50%
  • 10-yr: -3 bps to 3.70%
  • 30-yr: -3 bps to 4.00%