Bond Market Update

Opening Weakness Reversed

• U.S. Treasuries have spent the early portion of the session in a steady bounce off their opening lows. The market began inching up from its starting levels immediately after the cash open, continuing that bounce until recent action. Treasuries reached highs after today's economic data showed below-consensus New Home Sales in February (676,000; Briefing.com consensus 680,000) and a disappointing Consumer Confidence Index (92.9; Briefing.com consensus 94.2).
• Yield Check:
  • 2-yr: -1 bp to 4.02%
  • 3-yr: -2 bps to 4.00%
  • 5-yr: -1 bp to 4.08%
  • 10-yr: UNCH at 4.33%
  • 30-yr: +1 bp to 4.67%