Bond Market Update

Pressure Seeping Through

• U.S. Treasuries trade on their lows after slipping from their starting levels. The 10-yr note and shorter tenors tried to hold their opening levels through the first 30 minutes of action before slipping past yesterday's lows. Meanwhile, the long bond has returned to its low from Thursday, and is currently fighting to remain just above that mark. Equities opened the day in positive territory, but the Nasdaq (+0.2%) was quick to slip from its opening high while the S&P 500 (+0.4%) remains just below its best level of the morning.
• Yield Check:
  • 2-yr: +2 bps to 4.21%
  • 3-yr: +2 bps to 4.29%
  • 5-yr: +2 bps to 4.40%
  • 10-yr: +2 bps to 4.72%
  • 30-yr: +2 bps to 5.26%