Bond Market Update

Drifting Along

• U.S. Treasuries have inched up off their lows, but the overall action has stayed inside a narrow range. This leaves the 10-yr note right on its unchanged level while the long bond remains modestly lower for the day. Today's limited movement notwithstanding, the market has seen some pressure this week, which has sent yields to their highest levels in three weeks. The 10-yr yield is currently up nine basis points for the week while the 2-yr yield is up 12 basis points from last week's settlement.
• Yield Check:
  • 2-yr: -1 bp to 3.60%
  • 3-yr: -1 bp to 3.60%
  • 5-yr: -1 bp to 3.71%
  • 10-yr: UNCH at 4.09%
  • 30-yr: +2 bps to 4.66%