Bond Market Update

Buying Interest Fading

• Strikingly, the major equity indices are trading near their highs for the session, while Treasuries are trading near their lows for the session.
• President Trump said in a Truth Social post that reports suggesting the U.S. and Iran stopped speaking a few days ago are false and erroneous. That clarification notwithstanding, oil prices have reversed coourse and are now up on the session after being down before the start of tday's trade.
• WTI crude futures +0.9%, or $0.94, to $93.00/bbl. Brent crude futures +0.6%, or $0.62, to $95.60/bbl.
• The U.S. Dollar Index is flat at 99.22
• Yield check:
  • 2-yr: -1 bp to 4.04%
  • 3-yr: -1 bp to 4.09%
  • 5-yr: -2 bps to 4.17%
  • 10-yr: -2 bps to 4.46%
  • 30-yr: -2 bps to 4.97%