Bond Market Update

Opening Gains Reversed

• U.S. Treasuries trade on their lows after backpedaling from their morning highs. Treasuries started the day in positive territory, reaching their best levels about an hour after the cash start. Shorter tenors have led the pullback from morning highs, with Treasuries slipping alongside an upbeat open in equities. Reported not long ago, the preliminary reading of the University of Michigan's Consumer Sentiment Index for February rose to 57.3 (Briefing.com consensus 54.3) from 56.4 in January.
• Yield Check:
  • 2-yr: +1 bp to 3.50%
  • 3-yr: +1 bp to 3.57%
  • 5-yr: +1 bp to 3.76%
  • 10-yr: +1 bp to 4.22%
  • 30-yr: UNCH at 4.87%