Bond Market Update

Gains Padded

• U.S. Treasuries have added to their morning gains with some support from a weak showing in equities that has sent the Nasdaq (-1.6%) back to its 50-day moving average. Treasuries reached their best levels about an hour ago, pressuring the 30-yr yield back below its 200-day moving average (4.800%) with its 50-day moving average (4.772%) looming not far below. Meanwhile, the 10-yr yield hovers about a basis point above the 50-day moving average (4.127%) of its own. Elsewhere, commodities have remained hot with gold (+0.4%to $4616.60/ozt), silver (+4.6% to $90.28/ozt), and copper futures (+0.6% to $6.049/lb) hitting fresh record highs.
• Yield Check:
  • 2-yr: -2 bps to 3.51%
  • 3-yr: -3 bps to 3.56%
  • 5-yr: -3 bps to 3.71%
  • 10-yr: -3 bps to 4.14%
  • 30-yr: -3 bps to 4.80%