Bond Market Update

Pullback in Progress

• U.S. Treasuries have retreated from session highs that were reached about two hours after today's cash start. The pullback from highs is lifting yields off their lowest levels since early October, and it comes alongside a rebound attempt in the equity market after the S&P 500 came within ten points of its 200-day moving average (5726). With the recent bounce in risk, the long bond is now down for the day while the 2-yr note has recovered roughly half of its early loss.
• Yield Check:
  • 2-yr: -7 bps to 3.91%
  • 3-yr: -6 bps to 3.90%
  • 5-yr: -4 bps to 3.96%
  • 10-yr: -1 bp to 4.17%
  • 30-yr: +3 bps to 4.50%