Bond Market Update

Gains Sustained

• U.S. Treasuries have continued their bounce with 10s and 30s reaching fresh highs in recent trade while 2s and 5s remain at highs that were notched in the late morning. Today's rally makes for the second consecutive day of gains in the 5-yr note and shorter tenors, as the market recovers some of its big losses from March. The 2-yr yield is still up 44 basis points for the month while the 10-yr yield is up 37 basis points since the end of February.
• Yield Check:
  • 2-yr: -10 bps to 3.82%
  • 3-yr: -10 bps to 3.84%
  • 5-yr: -11 bps to 3.96%
  • 10-yr: -11 bps to 4.33%
  • 30-yr: -9 bps to 4.89%