Bond Market Update

Tripped Up

• Stocks have put their best rebound foot forward today, showing gains across the board by factor and market cap. Growth stocks, though, are leading value stocks while mega-cap stocks are leading small-cap stocks.
• Treasuries, meanwhile, saw a rebound effort tripped up by a better-than-expected ISM Manufacturing PMI for December that included an uptick in the Prices Index.
• Commodities are mixed today but two key commodities -- oil ($73.97, +0.84, +1.2%) and copper ($4.07, +0.04, +1.0%) -- are both higher.
• After a big day yesterday, the U.S. Dollar Index (-0.3% to 109.07) is pulling back today as the euro and British pound are both up 0.4% against the greenback.
• Yield check:
  • 2-yr: unch at 4.25%
  • 3-yr: unch at 4.28%
  • 5-yr: unch at 4.38%
  • 10-yr: -1 bp to 4.57%
  • 30-yr: -1 bp to 4.79%