Bond Market Update

Opening Gains Reversed

• U.S. Treasuries have dipped from their morning highs, returning most tenors to little changed, though the overall trading range has remained quite narrow. The 10-yr yield has bounced inside a two-basis point range through the first 90 minutes of today's session while yields on other tenors have followed suit. Equities started the day in positive territory with the S&P 500 (-0.1%) tagging a fresh record high before giving back its slim opening gain.
• Yield Check:
  • 2-yr: UNCH at 3.77%
  • 3-yr: UNCH at 3.78%
  • 5-yr: UNCH at 3.90%
  • 10-yr: UNCH at 4.29%
  • 30-yr: +1 bp to 4.90%