Bond Market Update

Buyback News Offer Lift

• U.S. Treasuries have extended their starting gains with the long bond leading the move, thanks to news from the U.S. Treasury that the maximum size of buybacks of longer-dated tenors will be at least doubled. The news has offered support to Treasuries while weighing on the dollar. As a result, the U.S. Dollar Index is now down 0.7% at 99.00, falling past its 200-day moving average (99.18) to its lowest level since the start of June.
• Yield Check:
  • 2-yr: -1 bp to 4.17%
  • 3-yr: -1 bp to 4.24%
  • 5-yr: -3 bps to 4.33%
  • 10-yr: -6 bps to 4.65%
  • 30-yr: -8 bps to 5.20%