Bond Market Update

Short End Ahead

• U.S. Treasuries have spent the first couple hours of the cash session in a largely sideways range, though shorter tenors have added to their early gains while the long end has faced some pressure that sent the long bond into negative territory in recent trade. Equities are off to a lower start with the S&P 500 (-0.9%) falling back into negative territory for the week (-0.5%).
• Yield Check:
  • 2-yr: -4 bps to 3.92%
  • 3-yr: -3 bps to 3.90%
  • 5-yr: -3 bps to 3.98%
  • 10-yr: -1 bp to 4.22%
  • 30-yr: +1 bp to 4.57%