Bond Market Update

Higher Start Defended

• U.S. Treasuries continue trading near their flat lines after a quiet start to the session. Treasuries slipped from their opening levels during the first few minutes of action, but they found support immediately after yields returned to their highs from yesterday. The ensuing bounce has lifted the complex back into the green while equities are defending modesty early gains with the S&P 500 (+0.2%) narrowing this week's loss to 0.1%.
• Yield Check:
  • 2-yr: -4 bps to 3.79%
  • 3-yr: -3 bps to 3.81%
  • 5-yr: -3 bps to 3.93%
  • 10-yr: -1 bp to 4.31%
  • 30-yr: -1 bp to 4.91%