Bond Market Update

Pulling Back

• U.S. Treasuries trade on their lows after widening their opening losses. Treasuries started the day on a slightly lower note, but the early losses have roughly been doubled since the start. The selling has reversed a portion of yesterday's advance, but the 10-yr note and shorter tenors remain on track to finish the week in positive territory while the long bond is little changed for the week. Equities are off to a flat start with the S&P 500 (+0.1%) hovering just above its flat line as investors watch the debut of SpaceX (SPCX).
• Yield Check:
  • 2-yr: +2 bps to 4.09%
  • 3-yr: +3 bps to 4.15%
  • 5-yr: +3 bps to 4.22%
  • 10-yr: +3 bps to 4.50%
  • 30-yr: +3 bps to 4.98%