Bond Market Update

Drifting Along

• U.S. Treasuries remain in the red, but they have risen off their morning lows after a quiet start to the Tuesday session. The market dipped out of the gate, extending its losses during the initial 30 minutes of action, before finding some support leading into the start of the Wall Street session, which has seen some early weakness in the Nasdaq (-0.9%) while the S&P 500 (-0.4%) shows a slimmer loss. Investors did not receive any economic data this morning, leaving the focus on the overall price action. Precious metals are hanging onto their early gains, keeping prices just above levels seen at the close of Friday's record-setting plunge.
• Yield Check:
  • 2-yr: +1 bp to 3.58%
  • 3-yr: +1 bp to 3.65%
  • 5-yr: +1 bp to 3.85%
  • 10-yr: +1 bp to 4.28%
  • 30-yr: +1 bp to 4.92%