Bond Market Update

Sitting Near Lows

• U.S. Treasuries trade near session lows that were notched around 11:00 ET, though the long bond has maintained its show of relative strength, keeping its yield about two basis points below today's high while yields on shorter tenors are within a basis point of their highest levels of the day. The market had hoped to hear some news from negotiations between U.S. and Iran by now, but the latest reports indicate that Vice President Vance has not left the U.S. yet, so the market will have to wait another day. Equities have given back their modest early gains with the S&P 500 (-0.4%) now down 0.6% for the week.
• Yield Check:
  • 2-yr: +6 bps to 3.78%
  • 3-yr: +7 bps to 3.80%
  • 5-yr: +6 bps to 3.91%
  • 10-yr: +5 bps to 4.30%
  • 30-yr: +2 bps to 4.90%