Bond Market Update

Opening Losses Widened

• Longer-dated Treasuries have faced a continuation of the early selling pressure, sending yields on the 10-yr note and the 30-yr bond to fresh highs for the year while yields on shorter tenors remain a few basis points below last week's highs. Treasuries continued widening their starting losses through the first couple hours of trade while equities surrendered their opening gains, leaving the S&P 500 down 0.5% at this juncture.
• Yield Check:
  • 2-yr: +5 bps to 4.28%
  • 3-yr: +6 bps to 4.34%
  • 5-yr: +6 bps to 4.44%
  • 10-yr: +7 bps to 4.73%
  • 30-yr: +6 bps to 5.26%