Bond Market Update

Holding Near Highs

• Longer-dated Treasuries trade just below their best levels of the session while shorter tenors have seen some backtracking from their morning highs. Interestingly, the complex has essentially held its ground through the past hour even as equities have retreated amid weakness in mega cap names. Despite its slight recent underperformance, the 2-yr note has already reclaimed its loss from yesterday while longer tenors are not far from following suit.
• Yield Check:
  • 2-yr: -2 bps to 3.75%
  • 3-yr: -3 bps to 3.71%
  • 5-yr: -3 bps to 3.83%
  • 10-yr: -3 bps to 4.31%
  • 30-yr: -3 bps to 4.91%