Bond Market Update

Longer Tenors Turn Red

• U.S. Treasuries have faced some additional selling, which has sent 10s and 30s into the red while shorter tenors remain in positive territory, though not by much. Treasuries started the day with a bounce attempt, but the persistent geopolitical worries have weighed on the market, which continues watching the price of oil and updates related to the conflict with Iran. Equities have retreated from their highs with the S&P 500 (-0.3%) now down 1.3% for the week. As for Treasuries, the 10-yr yield is on track to end the week with a 16-basis point increase while the 2-yr yield is up 17 basis points from last Friday's settlement.
• Yield Check:
  • 2-yr: -3 bps to 3.73%
  • 3-yr: -3 bps to 3.75%
  • 5-yr: -1 bp to 3.88%
  • 10-yr: +2 bps to 4.29%
  • 30-yr: +3 bps to 4.91%