Bond Market Update

Sitting Near Lows

• U.S. Treasuries trade just above their lows after retreating from their morning highs. The short end outperformed in early trade, but yields are now up about four basis points across the curve, returning the 10-yr yield to its 200-day moving average (4.221%). Meanwhile, the 2-yr yield has reversed yesterday's dip. The market received a heavy batch of economic reports this week, but there is one more highly anticipated release looming ahead of the weekend in the form of the Employment Situation report for April (Briefing.com consensus 130,000; prior 228,000), which will be released tomorrow at 8:30 ET.
• Yield Check:
  • 2-yr: +4 bps to 3.66%
  • 3-yr: +4 bps to 3.65%
  • 5-yr: +3 bps to 3.79%
  • 10-yr: +3 bps to 4.21%
  • 30-yr: +4 bps to 4.72%