Bond Market Update

Short End Maintains Lead

• U.S. Treasuries hover just below session highs that were reached about 45 minutes ago. The market spent the first hour of the cash session in a steady rise from the day's opening levels with 10s and shorter tenors finding some resistance near yesterday's highs. Meanwhile, the long bond remains behind, holding a slim loss. Equities have started the day on a shaky note with the S&P 500 (-0.1%) holding a slim loss after yesterday's intraday recovery.
• Yield Check:
  • 2-yr: -4 bps to 3.55%
  • 3-yr: -4 bps to 3.57%
  • 5-yr: -4 bps to 3.70%
  • 10-yr: -2 bps to 4.12%
  • 30-yr: +1 bp to 4.75%