Bond Market Update

Short End Maintains Lead

• Longer-dated Treasuries are back near their opening levels after a slow retreat from session highs that were reached in immediate reaction to today's last batch of economic data. The pullback has returned the long bond to little changed for the day while shorter tenors are hanging onto a solid chunk of their gains. Similarly, equities also find themselves near their opening levels with the S&P 500 (-0.1%) remaining modestly lower as it continues navigating today's 25-point range.
• Yield Check:
  • 2-yr: -4 bps to 3.59%
  • 3-yr: -3 bps to 3.60%
  • 5-yr: -3 bps to 3.71%
  • 10-yr: -2 bps to 4.12%
  • 30-yr: UNCH at 4.71%