Bond Market Update

Sideways Range Maintained

• U.S. Treasuries of most tenors have continued drifting inside a sideways range that was established during the first couple hours of today's session. The long bond has been an exception, slipping to a fresh low in recent trade. Even with the slight underperformance in the long bond, today's overall session has been very quiet while equities have spent the day in an attempt to overcome a weak start that still has the S&P 500 trading lower by 0.1%.
• Yield Check:
  • 2-yr: +3 bps to 4.10%
  • 3-yr: +3 bps to 4.07%
  • 5-yr: +4 bps to 4.12%
  • 10-yr: +5 bps to 4.29%
  • 30-yr: +5 bps to 4.56%