Bond Market Update

Gains Defended

• U.S. Treasuries hover just below session highs that were reached about an hour ago. Longer tenors have shown relative strength since the start, and they remain ahead with the 30-yr yield falling to its lowest level in nearly two weeks. Intraday news flow has been on the light side, but the Bureau of Labor Statistics announced that it will not release the September Employment Situation report on Friday if the government shuts down.
• Yield Check:
  • 2-yr: -2 bps to 3.63%
  • 3-yr: -3 bps to 3.63%
  • 5-yr: -3 bps to 3.74%
  • 10-yr: -5 bps to 4.14%
  • 30-yr: -6 bps to 4.71%