Bond Market Update

Sitting Near Lows

• U.S. Treasuries trade not far from their lows after backpedaling from their opening levels. Shorter tenors have underperformed throughout the day with the 2-yr yield on the verge of its highest settlement since early December. Meanwhile, the long bond has continued resisting today's intraday pressure, which leaves it with a modest gain. The 30-yr bond retreated alongside other tenors at the start but found support once its yield approached its 200-day moving average (4.801%). The 30-yr yield is now back near its 50-day moving average (4.774%), sitting at its lowest level in five weeks.
• Yield Check:
  • 2-yr: +5 bps to 3.56%
  • 3-yr: +5 bps to 3.61%
  • 5-yr: +4 bps to 3.76%
  • 10-yr: +2 bps to 4.16%
  • 30-yr: -1 bp to 4.78%