Bond Market Update

Little Changed in Early Trade

• U.S. Treasuries are mixed but largely little changed after dipping from their starting levels. Treasuries started the day on their highs, followed by an immediate pullback that found support once Treasuries approached yesterday's closing levels. The long bond outperformed yesterday, and it also ahead today, hanging onto a slim gain while shorter tenors are a bit behind. Equities are off to a modestly higher start with the S&P 500 (+0.1%) extending this week's gain to 1.3%.
• Yield Check:
  • 2-yr: UNCH at 3.50%
  • 3-yr: UNCH at 3.51%
  • 5-yr: +1 bp to 3.62%
  • 10-yr: UNCH at 3.99%
  • 30-yr: -1 bp to 4.56%