Bond Market Update

Long End Finds Renewed Pressure

• U.S. Treasuries have continued their volatile morning with longer tenors sliding to fresh lows in recent trade while the 2-yr note outperforms after lagging throughout the week. With today's selling, the 10-yr yield is back above its 50-day moving average (4.155%) while the 30-yr yield hovers just below its 50-day (4.799%) and 200-day (4.804%) moving averages. Equities are off to a lower start with the S&P 500 (-1.4%) widening this week's loss to 2.1%.
• Yield Check:
  • 2-yr: -3 bps to 3.57%
  • 3-yr: -2 bps to 3.60%
  • 5-yr: UNCH at 3.75%
  • 10-yr: +3 bps to 4.18%
  • 30-yr: +5 bps to 4.80%