Bond Market Update

Sitting on Lows

• Recent action saw a slip to fresh lows in the 10-yr note and shorter tenors while the long bond remains just above its low that was notched just before 10:00 ET. Treasuries have faced pressure since the start, though the pace of the selling slowed shortly after yields on most tenors hit fresh highs for the year. The 2-yr note has continued showing relative strength, keeping its yield about two basis points below its high from late July. Today's session marks the end of August, a month that saw renewed volatility during the past couple weeks. The 2-yr yield is currently up five basis points for the month while the 1-yr yield has increased by one basis point since the end of July.
• Yield Check:
  • 2-yr: -1 bp to 4.34%
  • 3-yr: +1 bp to 4.41%
  • 5-yr: +2 bps to 4.50%
  • 10-yr: +4 bps to 4.76%
  • 30-yr: +5 bps to 5.26%