Bond Market Update

Opening Weakness Reversed

• U.S. Treasuries have climbed off their early lows, lifting the 5-yr note and shorter tenors into positive territory while 10s and 30s remain slightly lower for the day. The rise off opening lows is keeping yields on all tenors near their respective 50-day moving averages after yesterday's selling lifted them back above those levels. Equities are off to a soft start with the S&P 500 (-0.3%) giving back yesterday's gain.
• Yield Check:
  • 2-yr: -1 bp to 4.29%
  • 3-yr: -1 bp to 4.31%
  • 5-yr: UNCH at 4.39%
  • 10-yr: +1 bp to 4.55%
  • 30-yr: +1 bp to 4.77%