Bond Market Update

Early Losses Limited

• U.S. Treasuries trade on their lows after adding to their initial losses. Treasuries stumbled out of the gate, though the first hour of action saw a bounce attempt that briefly returned all tenors to Friday's closing levels, but that was short lived. The market reversed from highs just as equities started day in the red, reaching lows during the past few minutes. All in all, the market is doing a good job handling renewed uncertainty with Treasuries and stocks keeping the bulk of last week's gains even though oil has climbed back toward $90/bbl.
• Yield Check:
  • 2-yr: +3 bps to 3.73%
  • 3-yr: +2 bps to 3.74%
  • 5-yr: +3 bps to 3.86%
  • 10-yr: +2 bps to 4.26%
  • 30-yr: +1 bp to 4.90%