Bond Market Update

Longer Tenors Near Highs

• Longer-dated Treasuries have seen limited movement since reaching their best levels shortly after 10:00 ET. Meanwhile, shorter tenors have seen some more backtracking from highs with the 2-yr note giving back the bulk of its intraday gain. Barring some late volatility, Treasuries are on track to finish the week with losses across the curve and yields up about three basis points in most tenors. Elsewhere, equities trade on a modestly lower note after giving back their slim opening gains with the S&P 500 (-0.2%) on course to surrender 0.6% for the week.
• Yield Check:
  • 2-yr: -2 bps to 3.87%
  • 3-yr: -3 bps to 3.85%
  • 5-yr: -2 bps to 3.97%
  • 10-yr: UNCH at 4.37%
  • 30-yr: UNCH at 4.83%