Bond Market Update

Resisting Pressure

• U.S. Treasuries continue trading not far from their starting levels, though the past couple hours have seen some additional selling, which was met with resilience. Treasuries dipped to fresh lows shortly after 11:00 ET, briefly lifting the 30-yr yield to its highest level since early September while the 10-yr yield stopped just shy of its December high (4.204%), making its third appearance just shy of that mark in as many days. The 10-yr yield is now just a basis point above today's starting level thanks to the recent bounce.
• Yield Check:
  • 2-yr: +2 bps to 3.48%
  • 3-yr: +2 bps to 3.54%
  • 5-yr: +2 bps to 3.73%
  • 10-yr: +2 bps to 4.18%
  • 30-yr: +2 bps to 4.87%