Bond Market Update

Morning Rebound Sustained

• U.S. Treasuries have added to their gains over the past couple hours, but the pace of the advance has slowed considerable from the steady morning rally that erased yesterday's losses. Thanks to the bounce, the 10-yr note and shorter tenors are now firmly positive for the week while the long bond is currently little changed from last week's settlement. Equities remain pressured with the S&P 500 (-0.9%) staying ahead of the Nasdaq (-1.9%).
• Yield Check:
  • 2-yr: -7 bps to 3.56%
  • 3-yr: -8 bps to 3.57%
  • 5-yr: -8 bps to 3.69%
  • 10-yr: -7 bps to 4.09%
  • 30-yr: -5 bps to 4.69%