Bond Market Update

Modest Gains Maintained

• U.S. Treasuries are hanging onto modest gains, making for a continuation of a quiet Tuesday session. Treasuries reached highs in the late morning but that move did not invite additional buying. Instead, the market nestled into a sideways range that has been in place for the past three hours. Equities remain weak with the S&P 500 (-1.0%) slipping toward its opening low in recent trade while the Nasdaq (-1.6%) is seeing a continuation of today's relative weakness.
• Yield Check:
  • 2-yr: -2 bps to 3.58%
  • 3-yr: -2 bps to 3.59%
  • 5-yr: -2 bps to 3.70%
  • 10-yr: -2 bps to 4.09%
  • 30-yr: -2 bps to 4.67%