Bond Market Update

Early Range Maintained

• U.S. Treasuries trade near their starting levels after a sideways start to the midweek session. Like yesterday, longer tenors have shown some relative weakness in the early going, but they remain just above their flat lines at this time. The sideways start in Treasuries comes alongside a slightly higher open in equities with the Nasdaq (+0.4%) continuing this week's outperformance while the S&P 500 hovers right on its flat line.
• Yield Check:
  • 2-yr: -1 bp to 4.01%
  • 3-yr: -1 bp to 4.00%
  • 5-yr: -1 bp to 4.12%
  • 10-yr: -1 bp to 4.49%
  • 30-yr: UNCH at 4.94%