Bond Market Update

Range-Bound

• The Treasury market is respecting a fairly tight trading range today. Conviction is lacking in front of market-moving data later in the week.
• Yields across the curve are lower for the year, but they are all up for the month of July.
• Yield check:
  • 2-yr: -1 bp to 3.90% (up 18 bps in July)
  • 3-yr: -1 bp to 3.87% (up 19 bps in July)
  • 5-yr: -1 bp to 3.98% (up 19 bps in July)
  • 10-yr: +1 bp to 4.43% (up 20 bps in July)
  • 30-yr: +1 bp to 4.97% (up 18 bps in July)