Bond Market Update

Opening Gains Reversed

• U.S. Treasuries have returned to their lows from Friday after giving back their slim modesty early gains. The trading day started on a higher note, but the entire complex began slipping from highs immediately after the open. The early selling has lifted yields on the 5-yr note and shorter tenors past their highs from Friday while yields on 10s and 30s are on the verge of doing the same. Equities are off to a quiet start with the S&P 500 down 0.1%.
• Yield Check:
  • 2-yr: UNCH at 3.76%
  • 3-yr: UNCH at 3.72%
  • 5-yr: UNCH at 3.85%
  • 10-yr: UNCH at 4.33%
  • 30-yr: UNCH at 4.93%