Bond Market Update

Staying Above Lows

• U.S. Treasuries hover just above their lows after spending the past two hours in a sideways range. Longer tenors have done a better job of staying off their worst levels of the session with the long bond essentially unchanged from its opening level. The front end has only been a bit weaker in morning trade, but the 2-yr note is also staying above its low at this juncture. Barring some late volatility, the 2-yr yield is on course to surrender six basis points for the week while the 10-yr yield is down five basis points from last week's settlement.
• Yield Check:
  • 2-yr: +3 bps to 3.46%
  • 3-yr: +3 bps to 3.46%
  • 5-yr: +3 bps to 3.58%
  • 10-yr: +3 bps to 4.00%
  • 30-yr: +2 bps to 4.60%