Bond Market Update

Buyers Sidelined

• Not much buying interest thus far, as the 10-yr note yield hits 4.50% (again) and the 30-yr bond yield touches 5.00% (again).
• Higher yields have been a limiting factor for stocks today, as they are experiencing a setback led by high-beta and growth stocks.
• WTI crude futures +2.3%, or $2.21, to $95.97/bbl. Brent crude futures are up 2.1%, or $2.00, to $98.00/bbl.
• Yield check:
  • 2-yr: +4 bps to 4.09%
  • 3-yr: +4 bps to 4.14%
  • 5-yr: +4 bps to 4.22%
  • 10-yr: +5 bps to 4.50%
  • 30-yr: +3 bps to 5.00%