Bond Market Update

Sitting Near Lows

• U.S. Treasuries remain in the red, trading a bit above their worst levels of the day. The market added to its losses in morning trade while the past hour has seen a shallow rise off lows that lifted action toward the day's starting levels. The limited movement has taken place alongside a mixed showing from equities with the Nasdaq (+0.4%) trading higher, the Dow (-0.4%) in the red, and S&P 500 (unch) splitting the difference. The three indices are on course to add a respective 2.0%, 1.7%, and 1.1% for the week while Treasuries are tracking a mixed finish. The 10-yr yield is down two basis points since last Friday's settlement while the 2-yr yield is up five basis points for the week.
• Yield Check:
  • 2-yr: +3 bps to 3.56%
  • 3-yr: +4 bps to 3.53%
  • 5-yr: +5 bps to 3.63%
  • 10-yr: +6 bps to 4.07%
  • 30-yr: +4 bps to 4.69%