Bond Market Update

Opening Gains Trimmed

• U.S. Treasuries have dipped from their early highs, though they remain in positive territory after a couple hours of action. The early portion of today's session has unfolded like yesterday's affair with Treasuries briefly rising above their starting levels only to find resistance that sent them back toward their opening levels. Overall, the market is off to a steady start while oil has remained below $78/bbl. Equities, meanwhile, are little changed after yesterday's strong showing.
• Yield Check:
  • 2-yr: UNCH at 4.07%
  • 3-yr: UNCH at 4.11%
  • 5-yr: -1 bp to 4.18%
  • 10-yr: -2 bps to 4.45%
  • 30-yr: -2 bps to 4.95%