Bond Market Update

Shorter Tenors Pad Gains

• Longer-dated Treasuries have navigated a slim sideways range since our last update, while 5s and shorter tenors have seen some more buying, which has lifted them to fresh highs for the day. The gains up front come alongside some pressure on the price of oil as the market remains cautiously optimistic that negotiators from the U.S. and Iran will meet over the weekend, making progress toward a peace deal.
• Yield Check:
  • 2-yr: -5 bps to 3.78%
  • 3-yr: -4 bps to 3.80%
  • 5-yr: -3 bps to 3.92%
  • 10-yr: -1 bp to 4.31%
  • 30-yr: UNCH at 4.92%