Bond Market Update

Range-bound

• Not a lot going on in the Treasury market the past several hours as the market has been range-bound.
• There was a basis to move lower in price (and up in yield) after this morning's data. That has happened to a small extent, yet sellers have not taken control of the market.
• Yields along the curve remain below yesterday's settlement levels.
• Not much happening today either for the U.S. Dollar Index (-0.1% to 107.87). The euro is firm against the dollar following the ECB's expected decision to cut its key policy rates by 25 basis points. EUR/USD flat at 1.0422.
• Yield check:
  • 2-yr: -2 bps to 4.21%
  • 3-yr: -2 bps to 4.25%
  • 5-yr: -4 bps to 4.32%
  • 10-yr: -4 bps to 4.52%
  • 30-yr: -3 bps to 4.77%