Bond Market Update

Modest Losses Maintained

• U.S. Treasuries remain modestly lower, making for a continuation of today's quiet trade. Treasuries rose off their early lows in late morning trade, but they found resistance immediately after 5s and 30s made a brief appearance at yesterday's closing levels during the past 30 minutes of trade. Treasuries have been largely unperturbed by weakness in some pockets of the equity market, which is keeping the S&P 500 (-1.0%) in the red. In Washington, the House is holding a procedural vote on the funding bill, which should be followed by a full vote later today.
• 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: +2 bps to 4.29%
  • 30-yr: +1 bp to 4.92%