Bond Market Update

On the Rise

• U.S. Treasuries have spent the early part of today's cash session in a steady rise off their opening lows. Treasuries opened on a slightly lower note, hitting their lowest levels of the session right at the open. The market did not receive any data at the start of the session, but the New York Fed will release its latest Survey of Consumer Expectations at 11:00 ET, which will provide an update about inflation expectations among consumers right after the preliminary February reading of the University of Michigan's Consumer Sentiment index showed an increase in year-ahead inflation expectations to 4.3% from 3.3%. Equities are starting the week on a higher note with the Nasdaq (+1.1%) leading the S&P 500 (+0.6%).
• Yield Check:
  • 2-yr: -2 bps to 4.26%
  • 3-yr: -2 bps to 4.28%
  • 5-yr: -3 bps to 4.31%
  • 10-yr: -2 bps to 4.47%
  • 30-yr: -1 bp to 4.68%