Bond Market Update

Opening Rally Meets Resistance

• U.S. Treasuries remain in positive territory, though 5s and 2s have dipped from the early highs while 10s and 30s remain closer to their best levels of the morning. The early pullback from highs took place alongside an uptick in the price of oil, which is rising toward $92/bbl. Equities, meanwhile, started the day in positive territory and they continue holding their early gains with the S&P 500 (+0.8%) now down just 0.1% for the week.
• Yield Check:
  • 2-yr: UNCH at 3.78%
  • 3-yr: +1 bp to 3.80%
  • 5-yr: UNCH at 3.90%
  • 10-yr: -1 bp to 4.28%
  • 30-yr: -1 bp to 4.89%