Bond Market Update

Sitting on Highs

• U.S. Treasuries trade just below session highs that were reached during the past hour with the belly showing some relative strength. Treasuries added to their modest starting gains after it was reported that Pakistan and Iran are considering a new approach to talks with the U.S. after some pressure from China, though even with the intraday buying, Treasuries remain on track for a firmly lower finish to the week. The 2-yr yield is up 15 basis points for the week while the 10-yr yield has increased by 12 basis points from last Friday's settlement. The 30-yr yield is up nine basis points for the week after stopping just shy of a fresh 2026 high yesterday.
• Yield Check:
  • 2-yr: -4 bps to 4.32%
  • 3-yr: -4 bps to 4.35%
  • 5-yr: -5 bps to 4.42%
  • 10-yr: -4 bps to 4.66%
  • 30-yr: -2 bps to 5.15%