Bond Market Update

Early Losses Maintained

• U.S. Treasuries continue hovering near their starting levels after a brief rebound attempt during the first few minutes of action. Treasuries started the day in the red, trying to recover their starting losses, but the move found resistance once the 2-yr note approached yesterday's closing level and crude oil began rising again. The next hour saw a slow return to opening lows while equities started the day under general pressure with the Dow (-0.8%) leading to the downside while the S&P 500 (-0.4%) outperforms.
• Yield Check:
  • 2-yr: +3 bps to 4.66%
  • 3-yr: +3 bps to 4.76%
  • 5-yr: +4 bps to 4.83%
  • 10-yr: +5 bps to 5.01%
  • 30-yr: +5 bps to 5.37%