Bond Market Update

Rising off Lows

• U.S. Treasuries have spent the first couple hours of action in a steady rise off their opening lows, though the long bond has yet to make it into positive territory while 10s and shorter tenors are now up for the day, looking to bounce from losses recorded over the past two days. The early rebound off lows comes alongside some pressure on the price of oil and little early change on Wall Street, leaving the S&P 500 just above its flat line.
• Yield Check:
  • 2-yr: -2 bps to 4.18%
  • 3-yr: -2 bps to 4.22%
  • 5-yr: -2 bps to 4.29%
  • 10-yr: -1 bp to 4.56%
  • 30-yr: UNCH at 5.07%