Bond Market Update

Drifting Along

• U.S. Treasuries remain in the red, trading just above lows that were reached about 90 minutes ago. Besides the initial widening of today's starting losses, intraday action has once again turned into a sideways affair. This puts the market on track for a quiet finish to Q2 with the long bond currently unchanged since the end of March while weakness up front has the 2-yr yield 32 basis points above its level from the end of Q1. The 10-yr yield, for its part, is up nine basis points for the quarter.
• Yield Check:
  • 2-yr: +1 bp to 4.12%
  • 3-yr: +2 bps to 4.13%
  • 5-yr: +3 bps to 4.17%
  • 10-yr: +3 bps to 4.40%
  • 30-yr: +3 bps to 4.89%