Bond Market Update

Sideways Range in Early Trade

• U.S. Treasuries continue holding slim losses in longer tenors while the 2-yr note is back to its unchanged level. The trading day started in quiet fashion with the market spending the initial hour in a sideways range, but recent trade has seen some buying, which has lifted the 5-yr note and shorter tenors past their opening levels. Equities are off to a solid start with the S&P 500 (+0.3%) extending this week's gain to 1.3%.
• Yield Check:
  • 2-yr: UNCH at 3.72%
  • 3-yr: -1 bp to 3.67%
  • 5-yr: +1 bp to 3.77%
  • 10-yr: +2 bps to 4.22%
  • 30-yr: +3 bps to 4.80%