Bond Market Update

Sitting Near Lows

• U.S. Treasuries have added to their early losses, though the pace of the selling has remained fairly slow. Treasuries spent the first hour of the cash session in a sideways range near their starting levels, followed by a dip to fresh lows as equities opened with an extension of yesterday's gains. The pressure has been even across the curve, lifting yield by about three basis points, followed by a slight uptick off lows after the release of the Consumer Confidence report for June (91.2; Briefing.com consensus 94.2), which missed expectations.
• Yield Check:
  • 2-yr: +2 bps to 4.13%
  • 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%