Bond Market Update

Opening Losses Extended

• U.S. Treasuries remain near their starting levels with the long end showing some relative strength, though like other tenors, it has not been able to make it out of the red. Treasuries added to their starting losses during the initial hour of action, briefly lifting yields on most tenors past their highs from last week. Equities have started the day on a lower note amid another uptick in the price of oil. The S&P 500 is down 0.5%, narrowing this week's gain to 0.6%.
• Yield Check:
  • 2-yr: +7 bps to 3.90%
  • 3-yr: +7 bps to 3.91%
  • 5-yr: +7 bps to 4.02%
  • 10-yr: +5 bps to 4.39%
  • 30-yr: +4 bps to 4.95%