Bond Market Update

Opening Range Maintained

• U.S. Treasuries trade a bit above their starting levels after a mostly sideways start to the Thursday session. The cash session started on a modestly lower note, followed by an immediate bounce, which eventually gave way to a return toward the day's starting levels. The early movement leaves the 10-yr note and shorter tenors in negative territory while the long bond has inched its way into positive territory by a slight margin. Equities are off to a slightly higher start with the S&P 500 (+0.1%) extending this week's gain to 0.5%.
• Yield Check:
  • 2-yr: +3 bps to 4.21%
  • 3-yr: +3 bps to 4.23%
  • 5-yr: +3 bps to 4.27%
  • 10-yr: +1 bp to 4.44%
  • 30-yr: UNCH at 4.65%