Bond Market Update

Pressure Emerges

• U.S. Treasuries have slid from their starting levels, sending yields toward last week's highs, after it was reported that Iran has suspended peace negotiations with the U.S. due to Israel striking Hezbollah targets in Lebanon. In addition to weighing on Treasuries, the news has led to a sharp acceleration in oil's bounce, sending WTI crude toward $95/bbl. Meanwhile, equities are mixed with technology and energy stocks showing strength while other areas of the market are under pressure.
• Yield Check:
  • 2-yr: +7 bps to 4.08%
  • 3-yr: +7 bps to 4.13%
  • 5-yr: +8 bps to 4.23%
  • 10-yr: +6 bps to 4.51%
  • 30-yr: +3 bps to 5.02%