Bond Market Update

Defending Gains

• U.S. Treasuries of most tenors have continued navigating a sideways range that was established in morning trade while shorter tenors have shown some relative strength, reaching fresh highs during the past hour. That said, today's intraday action has been very subdued, leaving yields at two-week lows. Assuming no late volatility, Treasuries are on course for a firmly higher finish to the week with yields on 2s and 10s down twelve basis points since last Friday's settlement.
• Yield Check:
  • 2-yr: -2 bps to 4.00%
  • 3-yr: -3 bps to 4.04%
  • 5-yr: -3 bps to 4.13%
  • 10-yr: -2 bps to 4.44%
  • 30-yr: -1 bp to 4.98%