Bond Market Update

Sideways Range Maintained

• U.S. Treasuries continue hovering near their flat lines after rising off their morning lows. Today's opening selling produced fresh highs for the week in yields on the 10-yr note and shorter tenors while continued outperformance in the 30-yr bond has kept its yield near the midpoint of this week's range. That range has been pretty narrow, considering the week has been dominated by renewed Iran-related concerns. The 10-yr yield hit a high of 4.31% today, just six basis points above its closing level from Friday. The 2-yr yield, however, is up ten basis points for the week.
• Yield Check:
  • 2-yr: +1 bp to 3.80%
  • 3-yr: UNCH at 3.81%
  • 5-yr: UNCH at 3.92%
  • 10-yr: UNCH at 4.29%
  • 30-yr: -1 bp to 4.90%