Bond Market Update

Opening Losses Maintained

• U.S. Treasuries continue holding losses, having spent the first couple hours of action in a mostly sideways range, though the long bond has shown some relative weakness, slipping past its opening level. The early weakness comes alongside a sideways start in the stock market, which has the S&P 500 (unch) defending this week's gain of 1.6%. Reported not long ago, the preliminary reading of the University of Michigan's Consumer Sentiment Index for September fell to 55.4 (Briefing.com consensus 59.2) from 58.2 in August.
• Yield Check:
  • 2-yr: +2 bps to 3.55%
  • 3-yr: +3 bps to 3.52%
  • 5-yr: +4 bps to 3.62%
  • 10-yr: +5 bps to 4.06%
  • 30-yr: +4 bps to 4.69%