Bond Market Update

Narrow Range Maintained

• U.S. Treasuries remain within a striking distance of their opening levels with longer tenors maintaining their lead. Treasuries have seen very little movement since the start, keeping yields on longer tenors at levels seen in early July while the 2-yr yield sits within five basis points of this month's high. Equities are defending their starting gains with the S&P 500 (+0.4%) returning to unchanged for the week.
• Yield Check:
  • 2-yr: -1 bp to 3.93%
  • 3-yr: -2 bps to 3.87%
  • 5-yr: -3 bps to 3.93%
  • 10-yr: -4 bps to 4.34%
  • 30-yr: -5 bps to 4.86%