Bond Market Update

Losses Widened

• U.S. Treasuries have added to their losses with shorter tenors hitting fresh lows in recent trade. The market bounced around its opening range through the first 90 minutes of action before seeing additional selling that has been accompanied by gains in equities and crude oil's return to its early-morning high. With today's selling, the 10-yr yield is now five basis points above its October low while the 2-yr yield is 10 basis points above its lowest level of the month.
• Yield Check:
  • 2-yr: +4 bps to 3.48%
  • 3-yr: +4 bps to 3.48%
  • 5-yr: +5 bps to 3.60%
  • 10-yr: +4 bps to 4.00%
  • 30-yr: +4 bps to 4.58%