Bond Market Update

Staying in the Red

• Longer-dated Treasuries continue hovering near their starting levels, having seen very limited movement since our last update. The morning release of a much better-than-expected weekly Initial Claims report invited a brief slip to lows that was followed by a rise above the day's starting levels. However, some overall pressure has persisted, keeping 2s and 5s at their lowest levels of the day while longer tenors have shown some more resilience. Equities, meanwhile, have continued navigating a narrow range near their flat lines with the S&P 500 up just 0.1% at this time.
• Yield Check:
  • 2-yr: +3 bps to 3.52%
  • 3-yr: +5 bps to 3.55%
  • 5-yr: +5 bps to 3.67%
  • 10-yr: +4 bps to 4.10%
  • 30-yr: +3 bps to 4.76%