Bond Market Update

Dipping From Highs

• Longer-dated Treasuries have inched back down to their opening levels while shorter tenors remain a bit closer to their highs. All in all, the market is hanging onto today's strong gains that have sent yields on the 10-yr note and shorter tenors back to their lowest level since early October. The 30-yr yield, meanwhile, revisited its March low earlier today (4.437%) before the recent pullback lifted it back above its 200-day moving average (4.469%). Equities remain deep in the red with the S&P 500 down 3.7%.
• Yield Check:
  • 2-yr: -16 bps to 3.74%
  • 3-yr: -19 bps to 3.70%
  • 5-yr: -19 bps to 3.77%
  • 10-yr: -14 bps to 4.06%
  • 30-yr: -7 bps to 4.48%