Bond Market Update

Early Gains Padded

• U.S. Treasuries trade on their highs after adding to their starting gains. The complex opened the session on a slightly higher note, but additional buying showed up over the next couple hours, driving the market to fresh highs. The buying in Treasuries has taken place alongside a weak start in equities as technology stocks met continued selling. Economic data released this morning had little impact on overall action, as the Consumer Confidence report for June (90.8; Briefing.com consensus 92.1; prior 92.2) showed a small dip.
• Yield Check:
  • 2-yr: -3 bps to 4.29%
  • 3-yr: -4 bps to 4.31%
  • 5-yr: -3 bps to 4.37%
  • 10-yr: -3 bps to 4.62%
  • 30-yr: -1 bp to 5.11%