Bond Market Update

Opening Range Maintained

• U.S. Treasuries continue hovering near their opening levels, making for a quiet start to the Monday session. Treasuries followed their lower open with a brief rebound attempt that ran out of steam once 10s and 30s approached their closing levels from Friday during the first hour of action. The next hour saw some renewed selling that returned all tenors to their starting levels. Equities are off to a shaky start with technology stocks showing ongoing volatility, leaving the S&P 500 down 0.3%.
• Yield Check:
  • 2-yr: +2 bps to 4.23%
  • 3-yr: +3 bps to 4.27%
  • 5-yr: +3 bps to 4.34%
  • 10-yr: +2 bps to 4.59%
  • 30-yr: +1 bp to 5.08%