Bond Market Update

Opening Range Maintained

• U.S. Treasuries continue trading in positive territory after another rangebound start to the trading day. Treasuries opened the session with slight gains, followed by a sideways drift in most tenors. The long bond has shown some relative strength, reaching a fresh high in recent trade, while other tenors continue trading within a basis point of their starting levels. Equities are off to a lower start with the S&P 500 (-0.6%) trading ahead of the Nasdaq (-0.9%).
• Yield Check:
  • 2-yr: -2 bps to 3.58%
  • 3-yr: -2 bps to 3.59%
  • 5-yr: -2 bps to 3.70%
  • 10-yr: -2 bps to 4.09%
  • 30-yr: -2 bps to 4.67%