Bond Market Update

Staying in the Red

• U.S. Treasuries continue hovering just below their flat lines after recovering the bulk of their opening losses. The market bounced swiftly off its morning lows, but it has struggled to make additional progress once action approached yesterday's closing levels. The equity session, meanwhile, has been somewhat sloppy with the S&P 500 (-0.4%) unable to make it out of the red due in part to ongoing volatility in the technology sector. On a side note, the Atlanta Fed lowered its GDPNow forecast for Q4 GDP to 3.0% from 3.6% ahead of tomorrow's release of the advance Q4 GDP report at 8:30 ET (Briefing.com consensus 3.0%; prior 4.3%).
• Yield Check:
  • 2-yr: +1 bp to 3.47%
  • 3-yr: +1 bp to 3.50%
  • 5-yr: +1 bp to 3.65%
  • 10-yr: +1 bp to 4.09%
  • 30-yr: +1 bp to 4.72%