Bond Market Update

Narrow Range in Early Trade

• U.S. Treasuries are little changed after a quiet start to the week. The trading day started with slight strength up front and relative weakness in longer tenors, but the long bond quickly climbed off its early low, returning to little changed, while the 2-yr note has given back its early gain and now trades slightly lower. Equities are off to strong start with the S&P 500 (+1.2%) reclaiming the bulk of its loss from Friday.
• Yield Check:
  • 2-yr: +1 bp to 3.71%
  • 3-yr: UNCH at 3.67%
  • 5-yr: UNCH at 3.77%
  • 10-yr: UNCH at 4.22%
  • 30-yr: UNCH at 4.81%