Bond Market Update

Longer Tenors Slip Behind

• U.S. Treasuries trade on their lows after adding to their initial losses. Treasuries attempted to climb off their opening levels during the first few minutes of action, but they quickly found resistance near yesterday's closing levels. The past hour has seen a slide to fresh lows with longer tenors taking the lead to the downside while shorter tenors trade a bit above their early lows. The early selling coincided with a weak start on Wall Street that has the S&P 500 (-0.9%) turning negative for the week (-0.4%).
• Yield Check:
  • 2-yr: +1 bp to 3.86%
  • 3-yr: +2 bps to 3.89%
  • 5-yr: +3 bps to 4.01%
  • 10-yr: +3 bps to 4.36%
  • 30-yr: +4 bps to 4.94%