Bond Market Update

Long End Shows Some Resilience

• Recent action saw the long bond inch above its opening level while shorter tenors remain near their starting levels. Today's lower start sent yields on 10s and 30s to their highest levels since early September, but the market has done a good job resisting the pressure since the cash start. Equities, however, have returned to their early lows with the S&P 500 nearing its 50-day moving average (6831).
• Yield Check:
  • 2-yr: -1 bp to 3.59%
  • 3-yr: UNCH at 3.67%
  • 5-yr: +2 bps to 3.85%
  • 10-yr: +5 bps to 4.28%
  • 30-yr: +7 bps to 4.91%