Bond Market Update

Opening Losses Extended

• U.S. Treasuries trade on their lows after adding to their starting losses. Treasuries opened in the red, holding near their starting levels in immediate reaction to the Retail Sales report for March (1.7%; Briefing.com consensus 1.3%), which beat expectations by a wide margin, likely thanks to higher prices. Treasuries slipped past their starting lows as equities opened in the green with the S&P 500 (+0.3%) extending its April gain to 9.2%.
• Yield Check:
  • 2-yr: +5 bps to 3.77%
  • 3-yr: +5 bps to 3.78%
  • 5-yr: +4 bps to 3.89%
  • 10-yr: +3 bps to 4.28%
  • 30-yr: +1 bp to 4.89%