Bond Market Update

Opening Losses Widened

• U.S. Treasuries trade just below their starting levels after a quiet start to the cash session. Treasuries extended their starting losses after the open, but the pace of the selling since the start has been measured. The 10-yr yield sits just one basis point above its opening level while the 2-yr yield is essentially unchanged since the open. Equities have faced some early pressure, which has sent the S&P 500 (-0.5%) into negative territory for the week (-0.1%).
• Yield Check:
  • 2-yr: +2 bps to 3.55%
  • 3-yr: +2 bps to 3.59%
  • 5-yr: +4 bps to 3.75%
  • 10-yr: +5 bps to 4.19%
  • 30-yr: +6 bps to 4.85%