Bond Market Update

Opening Levels Revisited

• U.S. Treasuries are back near their opening levels after inching up off their mid-morning lows. Treasuries retreated through the first hour of action, briefly lifting the 10-yr yield toward its high from last week while the 30-yr yield inched above last week's high. The market began bouncing about an hour after the slip to lows, finding support near today's starting levels. Elsewhere, equities faced some early pressure, but they have been resilient with the S&P 500 trimming its loss to just 0.1%.
• Yield Check:
  • 2-yr: +1 bp to 3.63%
  • 3-yr: +3 bps to 3.55%
  • 5-yr: +3 bps to 3.56%
  • 10-yr: +5 bps to 3.79%
  • 30-yr: +6 bps to 4.14%