Bond Market Update

Wednesday Slide Reversed

• U.S. Treasuries trade on their highs after extending their starting gains. Treasuries followed their modestly higher start with an early continuation of the opening advance led by the belly of the curve. The early gains have wiped out all of yesterday's losses with yields on 10s and shorter tenors now back at their closing levels from Tuesday while the 30-yr yield remains a basis point above its Tuesday close. The advance has pressured the 30-yr yield back below its 50-day moving average (4.696%) while the 10-yr yield is back on the 50-day moving average (4.089%) of its own.
• Yield Check:
  • 2-yr: -6 bps to 3.57%
  • 3-yr: -7 bps to 3.58%
  • 5-yr: -7 bps to 3.69%
  • 10-yr: -7 bps to 4.09%
  • 30-yr: -6 bps to 4.68%