Bond Market Update

Opening Losses Narrowed

• U.S. Treasuries have risen off their starting lows, returning longer tenors to little changed while the short end remains a bit behind. Treasuries marked lows immediately at the start of the session, followed by a steady bounce. The bounce produced highs just as equities opened on a strong note, encouraged by the impeding end of the government shutdown that was threatening to disrupt Thanksgiving travel. The long bond is back at its unchanged level after opening weakness lifted its yield back to last week's high while the 2-yr note remains slightly lower for the day.
• Yield Check:
  • 2-yr: +1 bp to 3.57%
  • 3-yr: +1 bp to 3.58%
  • 5-yr: +1 bp to 3.69%
  • 10-yr: +1 bp to 4.10%
  • 30-yr: UNCH at 4.70%