Bond Market Update

Quiet Start Continues

• U.S. Treasuries are little changed after spending the early portion of today's session near their flat lines. The market faced some light pressure during the first hour of action, but the entire complex bounced in short order, returning to little changed. There was no noteworthy data today, but tomorrow, the market will receive July PPI (Briefing.com consensus 0.1%; prior 0.2%) and Core PPI (Briefing.com consensus 0.2%; prior 0.4%) at 8:30 ET. Equities are seeking a higher start with the Nasdaq (+0.5%) leading the S&P 500 (+0.2%).
• Yield Check:
  • 2-yr: -1 bp to 4.04%
  • 3-yr: -2 bps to 3.86%
  • 5-yr: -2 bps to 3.78%
  • 10-yr: -1 bp to 3.93%
  • 30-yr: UNCH at 4.22%