Bond Market Update

Long End Ahead

• U.S. Treasuries trade on their highs after spending the first couple hours of action in a mostly sideways range with a slight upward bias. Treasuries dipped from their starting levels out of the gate with the 30-yr bond making a brief appearance in the red before bouncing swiftly. Longer tenors underperformed on Friday, but they have stayed ahead of shorter tenors so far this morning with no data to influence the action. Equities started the day in positive territory with the S&P 500 (+0.4%) narrowing its June loss to 2.6%.
• Yield Check:
  • 2-yr: +1 bp to 4.10%
  • 3-yr: +1 bp to 4.10%
  • 5-yr: +1 bp to 4.14%
  • 10-yr: UNCH at 4.37%
  • 30-yr: -1 bp to 4.86%