Bond Market Update

Sideway Action Continues

• U.S. Treasuries trade a bit above their morning lows, which is keeping the 30-yr bond just shy of its unchanged level while shorter tenors hold slight losses. Today's session has been uneventful, thanks in part to a lack of market-moving data, but the bounce in equities has also provided some reassurance. The long bond is currently on track to finish the week unchanged while the 2-yr note is on course for a modest gain with its yield down three basis points for the week.
• 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%