Bond Market Update

Hanging Onto Gains

• U.S. Treasuries have slipped below their opening levels, though they continue hanging onto modest gains. Intraday action has been on the subdued side with the market seeing some more backtracking but not without the market showing some resilience. Today's advance has pressured the 10-yr yield back below its 50-day moving average (4.078%), though the benchmark yield briefly inched back above that mark during the earlier dip from highs.
• Yield Check:
  • 2-yr: -3 bps to 3.49%
  • 3-yr: -2 bps to 3.51%
  • 5-yr: -2 bps to 3.64%
  • 10-yr: -2 bps to 4.07%
  • 30-yr: -1 bp to 4.74%