Bond Market Update

Gains Extended

• U.S. Treasuries trade on their highs after a recent acceleration of their advance. The market spent the first hour of trade near the unchanged level, but a rally developed after that with the recent push to highs helping the complex erase the remainder of its losses from yesterday. Reported not long ago, job openings fell to 7.181 million in July from a revised 7.357 million in June. This was the lowest number of openings since early 2021. Equities are off to a mostly higher start with the Nasdaq (+1.0%) and S&P 500 (+0.4%) trading well ahead of the Dow (-0.3%).
• Yield Check:
  • 2-yr: -5 bps to 3.61%
  • 3-yr: -5 bps to 3.58%
  • 5-yr: -6 bps to 3.69%
  • 10-yr: -6 bps to 4.22%
  • 30-yr: -7 bps to 4.90%