Bond Market Update

Longer Tenors on Lows

• U.S. Treasuries trade just above lows that were set during the past hour. The move, which briefly pressured action past levels from this morning, developed after a brief late morning run at fresh highs. The volatility has taken place inside a narrow range, which leaves yields on longer tenors up about one basis point while the 10-yr note underperforms a touch. Barring a volatile finish, the 10-yr yield is on track to end five basis points higher for the week while the 2-yr yield is up seven basis points from last week's settlement.
• Yield Check:
  • 2-yr: -1 bp to 3.65%
  • 3-yr: UNCH at 3.66%
  • 5-yr: +1 bp to 3.77%
  • 10-yr: +2 bps to 4.19%
  • 30-yr: +1 bp to 4.76%