Bond Market Update

Still Selling

• Treasuries remain under selling pressure, even though oil prices have moved off their highs from earlier in the day. WTI crude futures had topped $96.00/bbl, but are now at $94.31/bbl, up $1.90, or 2.1%.
• Treasury yields have hit their highs for the session in a sell-off that has been pretty equitable for the most part. That is, the front end and the back end of the curve are seeing similar losses.
• Yield check:
  • 2-yr: +8 bps to 4.93%
  • 3-yr: +9 bps to 5.02%
  • 5-yr: +9 bps to 5.08%
  • 10-yr: +9 bps to 5.25%
  • 30-yr: +8 bps to 5.57%