Bond Market Update

Opening Losses Extended

• U.S. Treasuries have added to their early losses with the 5-yr note leading the retreat from opening levels. The market started today's session near their closing levels from Wednesday while the past couple hours have seen a dip below those levels. The widening of the early losses took place alongside a solid start from equities, which has the S&P 500 trading up 2.2% while the Nasdaq (+3.3%) outperforms.
• Yield Check:
  • 2-yr: +10 bps to 2.61%
  • 3-yr: +11 bps to 2.82%
  • 5-yr: +12 bps to 2.90%
  • 10-yr: +11 bps to 2.93%
  • 30-yr: +9 bps to 3.08%