Bond Market Update

Drifting to the Close

• U.S. Treasuries hover just above lows that were reached about an hour ago. The selling has lifted the 30-yr yield back to its 50-day moving average (4.679%) while yields on shorter tenors hover near their highs from Wednesday. The stock market will close atop the hour while the Treasury market will close at 14:00 ET, so trading volume is expected to drift lower heading into the early close. Given the current standing, the 10-yr yield is on track to decrease by four basis points for the week while the 2-yr yield is down two basis points from last Friday's settlement.
• Yield Check:
  • 2-yr: +1 bp to 3.49%
  • 3-yr: +2 bps to 3.49%
  • 5-yr: +2 bps to 3.60%
  • 10-yr: +2 bps to 4.02%
  • 30-yr: +3 bps to 4.67%