Bond Market Update

Long End Remains Behind

• U.S. Treasuries trade just above session lows that were reached about 30 minutes ago with longer tenors remaining behind while the 2-yr note remains supported by its flat line. The selling in longer tenors puts the 30-yr yield on track for its highest settlement since early September, and it comes despite a bumpy start to the year in the equity market as the S&P 500 returns to its flat line after giving back a solid starting gain.
• Yield Check:
  • 2-yr: -1 bp to 3.47%
  • 3-yr: UNCH at 3.54%
  • 5-yr: +1 bp to 3.73%
  • 10-yr: +2 bps to 4.18%
  • 30-yr: +2 bps to 4.86%