Bond Market Update

Opening Losses Widened

• U.S. Treasuries trade on their lows after adding to their initial losses. Treasuries followed their lower start with an early bounce attempt, but that move failed well before Treasuries returned to their flat lines. The renewed pressure has sent 10s and shorter tenors to fresh lows while the long bond remains above its morning low. Equities are off to a strong start, encouraged by positive signals on the U.S.-China trade front. The U.S. Treasury will announce the results of its 2-yr note sale at 11:30 ET, followed by the outcome of the 5-yr note offering at 13:00 ET.
• Yield Check:
  • 2-yr: +3 bps to 3.51%
  • 3-yr: +3 bps to 3.52%
  • 5-yr: +4 bps to 3.64%
  • 10-yr: +3 bps to 4.02%
  • 30-yr: +1 bp to 4.60%