Bond Market Update

Opening Range Maintained

• U.S. Treasuries continue trading near their starting levels after a busy morning that featured the release of some delayed economic data. September PPI (0.3%; Briefing.com consensus 0.3%) matched expectations while Retail Sales growth (0.2%; Briefing.com consensus 0.4%) underwhelmed. Reported not long ago, Consumer Confidence (88.7; Briefing.com consensus 93.3) weakened in November, missing expectations. In sum, the reports have not done much to change the market's view of the economy, evidenced by the muted reaction. Equities are giving back some of their gains from yesterday with the Nasdaq (-0.6%) trading behind the S&P 500 (-0.2%).
• Yield Check:
  • 2-yr: -3 bps to 3.48%
  • 3-yr: -1 bp to 3.48%
  • 5-yr: -2 bps to 3.59%
  • 10-yr: -3 bps to 4.01%
  • 30-yr: -3 bps to 4.65%