Bond Market Update

Fresh Highs Set

• U.S. Treasuries have not seen much movement over the past couple hours, but they have maintained their upward bias, having inched to fresh highs about an hour ago. Longer tenors have maintained their leadership after last week's underperformance lifted the 30-yr yield toward its high from late May (5.153%). Today, however, the 30-yr yield is back below its 50-day moving average (4.920%), hovering at a level last seen over a week ago. Equities are maintaining their early strength with the S&P 500 (+0.6%) seeking a fresh record finish.
• Yield Check:
  • 2-yr: -4 bps to 3.84%
  • 3-yr: -5 bps to 3.79%
  • 5-yr: -7 bps to 3.90%
  • 10-yr: -8 bps to 4.35%
  • 30-yr: -8 bps to 4.92%