Bond Market Update

Early Losses Maintained

• U.S. Treasuries have inched up off their opening lows, though they continue holding the bulk of their early losses at this time after a quiet first couple hours of trade. Treasuries began inching up off their lows at the open, but they found resistance as the long bond approached its unchanged level. The slight outperformance in the 30-yr bond leaves its yield up just one basis point for the day while shorter tenors hold wider losses. Equities started the day in shaky fashion with technology showing ongoing volatility and the S&P 500 down 0.7% in the early going.
• Yield Check:
  • 2-yr: +3 bps to 4.31%
  • 3-yr: +4 bps to 4.34%
  • 5-yr: +3 bps to 4.39%
  • 10-yr: +2 bps to 4.63%
  • 30-yr: +1 bp to 5.11%