Bond Market Update

Modest Losses Maintained

• U.S. Treasuries have climbed back toward their best levels of the session after bouncing off freshly-set lows around noon ET. Longer tenors continue trading ahead, but the entire complex has spent the intraday session inside a sideways range while equities have inched higher with the S&P 500 (+0.2%) extending this week's gain to 0.6%. The intraday movement is leaving yields on all tenors on track to finish the day below their respective 50-day moving averages with the 30-yr yield tracking its lowest close since mid-December.
• Yield Check:
  • 2-yr: +2 bps to 4.20%
  • 3-yr: +2 bps to 4.22%
  • 5-yr: +2 bps to 4.27%
  • 10-yr: +1 bp to 4.43%
  • 30-yr: UNCH at 4.64%