Bond Market Update

Early Gains Trimmed

• U.S. Treasuries continue trading near their starting levels, making for a quiet start to the Monday session. Treasuries climbed past their opening levels during the first hour of action, but found resistance after the 10-yr note briefly climbed above its high from Friday. The next hour saw a dip that has sent all tenors below their opening levels, though they remain in positive territory at this juncture. Equities are off to a lower start with the S&P 500 (-0.3%) trimming its December gain to 0.9%.
• Yield Check:
  • 2-yr: -1 bp to 3.47%
  • 3-yr: -1 bp to 3.52%
  • 5-yr: -1 bp to 3.69%
  • 10-yr: -1 bp to 4.13%
  • 30-yr: -1 bp to 4.81%