Bond Market Update

Opening Losses Maintained

• U.S. Treasuries remain near their early lows after a failed bounce attempt during the initial two hours of trade. Treasuries began rising off their startling lows shortly after the open, but they found resistance well before they reached yesterday's closing levels. The past 30 minutes have seen a return to lows with shorter tenors continuing their early underperformance. Economic data released this morning showed a slight improvement in Consumer Confidence for April (92.8; Briefing.com consensus 89.2; prior 92.2).
• Yield Check:
  • 2-yr: +4 bps to 3.84%
  • 3-yr: +3 bps to 3.87%
  • 5-yr: +5 bps to 3.99%
  • 10-yr: +3 bps to 4.37%
  • 30-yr: +2 bps to 4.97%