Bond Market Update

FOMC Ahead

• U.S. Treasuries continue hovering just below their best levels of the session amid anticipation leading up to the 14:00 ET release of the FOMC Statement for June. While the market does not expect the statement to call for any immediate policy changes, this will be the first directive prepared with Kevin Warsh as Fed Chairman. Mr. Warsh will address the assembled media at 14:30 ET to discuss the policy meeting and answer questions. Equities have seen limited intraday movement, leaving the S&P 500 (+0.1%) with a slight gain.
• Yield Check:
  • 2-yr: +2 bps to 4.07%
  • 3-yr: +2 bps to 4.11%
  • 5-yr: +2 bps to 4.17%
  • 10-yr: UNCH at 4.43%
  • 30-yr: -1 bp to 4.92%