Bond Market Update

Opening Dip Reversed

• U.S. Treasuries trade on their highs after overcoming a soft start. The Treasury complex started the day with slim losses but bounced immediately with the 10-yr note leading the way while other tenors are not far behind. Treasuries have built on their rebound in recent trade, pressuring yields on the 10-yr note and shorter tenors past yesterday's lows while the 30-yr yield is not far from doing the same. Equities are off to a soft start with the Nasdaq (-0.6%) facing early pressure while the S&P 500 (-0.2%) holds a slimmer loss.
• Yield Check:
  • 2-yr: -2 bps to 3.83%
  • 3-yr: -2 bps to 3.78%
  • 5-yr: -3 bps to 3.88%
  • 10-yr: -3 bps to 4.34%
  • 30-yr: -2 bps to 4.91%