Bond Market Update

Rebound Sustained

• U.S. Treasuries trade just below their highs that were notched during the past hour as the market continued building on its rebound off opening lows. The pace of the advance slowed considerably in late morning trade, but the market has maintained its upward track with longer tenors remaining a bit ahead of the short end. Thanks to today's rally, the 10-yr yield is back below its 200-day moving average (4.364%), tracking its lowest settlement in nearly three weeks while the 30-yr yield has slipped below its 50-day moving average (4.921%), which puts it on track for its lowest finish in nearly two weeks.
• 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: -4 bps to 4.33%
  • 30-yr: -4 bps to 4.90%