Bond Market Update

Opening Gains Trimmed

• Longer-dated Treasuries remain in positive territory by a slight margin, but the entire complex has seen some backtracking during the first couple hours of action. Treasuries tried adding to their starting gains immediately after the open, but they found resistance near yesterday's morning highs. Equities started the day on a positive note with the S&P 500 (+0.4%) returning into positive territory for the month.
• Yield Check:
  • 2-yr: +1 bp to 3.51%
  • 3-yr: UNCH at 3.51%
  • 5-yr: UNCH at 3.63%
  • 10-yr: UNCH at 4.05%
  • 30-yr: UNCH at 4.64%