Bond Market Update

Opening Levels Revisited

• U.S. Treasuries are back near their opening levels after setting fresh session highs about an hour ago. The market faced some impulse selling in reaction to today's initial batch of the data, but Treasuries have exhibited some strength since then with longer tenors continuing their outperformance from the overnight futures market. Equities remain somewhat skittish with the S&P 500 (+0.2%) holding a slim gain while the Nasdaq (-0.4%) underperforms.
• Yield Check:
  • 2-yr: UNCH at 4.02%
  • 3-yr: UNCH at 4.00%
  • 5-yr: -2 bps to 4.07%
  • 10-yr: -3 bps to 4.28%
  • 30-yr: -4 bps to 4.58%