Bond Market Update

Opening Range Maintained

• Longer-dated Treasuries trade a bit above their opening levels while shorter tenors remain essentially where they started. The early portion of the Thursday session has been largely uneventful, due in part to the ongoing lack of economic data from government sources. The National Association of Realtors released the Existing Home Sales report for September, showing an increase to 4.06 million (Briefing.com consensus 4.05 mln) from 4.00 million in August. On a separate note, JP Morgan expects the Fed to announce the end of quantitative tightening at the conclusion of next week's policy meeting.
• Yield Check:
  • 2-yr: +2 bps to 3.46%
  • 3-yr: +3 bps to 3.47%
  • 5-yr: +3 bps to 3.58%
  • 10-yr: +3 bps to 3.98%
  • 30-yr: +2 bps to 4.56%