Bond Market Update

Opening Range Maintained

• U.S. Treasuries remain near their starting levels after a sideways start to the Monday session. The trading day started with losses across the curve and relative weakness up front, but the belly lags at this time. That said, the first couple hours of action have seen limited movement while equities started the day on a mixed note with the Nasdaq (-0.3%) showing early weakness while the S&P 500 (+0.1%) holds a slim gain.
• Yield Check:
  • 2-yr: +3 bps to 4.21%
  • 3-yr: +4 bps to 4.23%
  • 5-yr: +4 bps to 4.27%
  • 10-yr: +4 bps to 4.49%
  • 30-yr: +3 bps to 4.94%