Bond Market Update

Positive Bias

• The major equity indices slid to new session lows amid reports that the U.S. might impose more technology-related sanctions on China. This comes on the heels of the president expressing his disappointment in a social media post this morning over China's violation of the preliminary trade agreement and his exclamation, "So much for being MR. NICE GUYY!"
• Treasuries are trading near their best levels of the day, which aren't far off yesterday's settlement levels but nonetheless point to buying interest in today's session.
• Yield check:
  • 2-yr: -4 bps to 3.90%
  • 3-yr: -4 bps to 3.87%
  • 5-yr: -3 bps to 3.97%
  • 10-yr: -3 bps to 4.40%
  • 30-yr: -1 bp to 4.92%