Bond Market Update

Gains Maintained

• U.S. Treasuries remain not far below session highs that were reached in mid-morning action. The belly is a step ahead, but yields on all tenors are near their lowest levels of the day. Today's advance has been assisted by the Bank of England confirming its plan to stop sales of longer-dated Gilts. This has given a boost to European debt on the long end while shorter tenors underperform. Equities are hanging onto today's gains with the S&P 500 (+1.1%) trailing the Nasdaq (+1.6%).
• Yield Check:
  • 2-yr: -5 bps to 4.68%
  • 3-yr: -5 bps to 4.76%
  • 5-yr: -6 bps to 4.80%
  • 10-yr: -6 bps to 4.95%
  • 30-yr: -5 bps to 5.30%