Bond Market Update

Losses Widened

• U.S. Treasuries have added to today's losses, though the selling has taken place at a glacial pace, leaving Treasuries not far below their morning lows. Treasuries attempted to climb off their starting levels during the first few minutes of action, but they quickly found resistance, embarking on a slow slide that has continued into the early afternoon. Today's selling is putting the 2-yr yield on track for its highest settlement of the year while yields on longer tenors have risen to their highest levels in more than a week.
• Yield Check:
  • 2-yr: +4 bps to 4.22%
  • 3-yr: +5 bps to 4.24%
  • 5-yr: +6 bps to 4.28%
  • 10-yr: +6 bps to 4.51%
  • 30-yr: +5 bps to 4.95%