Bond Market Update

Little Changed in Early Trade

• U.S. Treasuries continue trading near their early lows after a sideways start to the session. Yields are up about a basis point across the curve as the market awaits the 14:00 ET release of the FOMC Statement for October, which is widely expected to call for a rate cut and could also announce the end of quantitative tightening. Equities started the day on a higher note, lifting the major averages to fresh record highs with the Nasdaq (+0.7%) extending this week's gain to 3.4%.
• Yield Check:
  • 2-yr: +1 bp to 3.50%
  • 3-yr: +1 bp to 3.51%
  • 5-yr: +1 bp to 3.62%
  • 10-yr: +1 bp to 3.99%
  • 30-yr: +1 bp to 4.56%