Bond Market Update

Inching Higher

• U.S. Treasuries trade on a slightly higher note after inching up off their opening levels. The trading day started with slim losses that were briefly extended during the first hour of trade, but the market easily overcame that weakness during the past hour. The bounce off lows comes alongside a largely muted start in equities, which has the S&P 500 (+0.1%) holding a slim gain while the Nasdaq (-0.2%) is modestly lower, and the Russell 2000 (+0.7%) outperforms in early trade.
• Yield Check:
  • 2-yr: -2 bps to 3.74%
  • 3-yr: -2 bps to 3.74%
  • 5-yr: -1 bp to 3.88%
  • 10-yr: UNCH at 4.27%
  • 30-yr: -1 bp to 4.73%