Bond Market Update

Hovering Near Lows

• U.S. Treasuries remain near lows that were notched in late-morning trade after it was reported that Iran has halted discussions with the U.S. due to displeasure over Israel's strikes on Hezbollah targets in Lebanon. The long bond has outperformed from the start, and it has done the best job distancing itself from today's low while shorter tenors have essentially held their ground over the past three hours. Equities remain mixed with technology and energy stocks holding strong gains while other areas of the market remain pressured. Crude oil hovers just above $94/bbl after marking a high just shy of $95/bbl about 90 minutes ago.
• Yield Check:
  • 2-yr: +7 bps to 4.08%
  • 3-yr: +7 bps to 4.13%
  • 5-yr: +7 bps to 4.21%
  • 10-yr: +5 bps to 4.50%
  • 30-yr: +1 bp to 5.01%