Bond Market Update

Narrow Range Maintained

• U.S. Treasuries continue hovering near their flat lines with the long bond hanging onto a slight gain while shorter tenors remain in negative territory. The market has had a sleepy start to the new week with the 10-yr yield staying inside a two-basis point range, thanks in part to a lack of economic data. However, a few noteworthy reports will be released ahead of Friday's Independence Day closure with June Consumer Confidence (Briefing.com consensus 94.2; prior 93.1) set to be released tomorrow morning, followed by the ISM Manufacturing Index for June (Briefing.com consensus 53.8%; prior 54.0%) on Wednesday, and the June Employment Situation report (Briefing.com consensus 110,000; prior 172,000) on Thursday morning.
• Yield Check:
  • 2-yr: +2 bps to 4.11%
  • 3-yr: +2 bps to 4.11%
  • 5-yr: +2 bps to 4.15%
  • 10-yr: +1 bp to 4.38%
  • 30-yr: UNCH at 4.86%