Bond Market Update

Gains Extended

• U.S. Treasuries have added to their gains since our last update, maintaining their strength to begin the week. The market faced a brief hiccup at Monday's open, but it has been resilient since then, which puts yields on shorter tenors not far above their lows from last week. The recent extension of gains took place alongside more gains on Wall Street and an indication from President Trump that talks with Iran may resume in the coming days. This has weighed on the price of oil, which is now sliding toward $90/bbl.
• Yield Check:
  • 2-yr: -2 bps to 3.76%
  • 3-yr: -2 bps to 3.78%
  • 5-yr: -3 bps to 3.89%
  • 10-yr: -3 bps to 4.27%
  • 30-yr: -2 bps to 4.88%