Bond Market Update

Mixed in Early Trade

• U.S. Treasuries are mixed with shorter tenors holding modest early gains while 10s and 30s underperform, holding slim losses. The first couple hours of action have been quiet with Treasuries quickly bouncing off their opening lows, though longer tenors found resistance at their unchanged levels before dipping back toward their early lows. Similarly, equities are off to a flat, but somewhat mixed start with the Nasdaq (+0.1%) holding a slim early gain while the S&P 500 (-0.1%) hovers in the red.
• Yield Check:
  • 2-yr: -2 bps to 3.48%
  • 3-yr: -1 bp to 3.56%
  • 5-yr: UNCH at 3.76%
  • 10-yr: +1 bp to 4.22%
  • 30-yr: +2 bps to 4.88%