Longer-duration Treasury yields, however, fell across the board as shares of First Republic Bank fell after the company reported a more than $100 billion plunge in deposits in the first quarter, increasing fears that Wall Street has not seen the last of the regional banking crisis.
The yield on 10-year Treasury notes was down 6.3 basis points to 3.509%, while the yield on the 30-year Treasury bond was down 5.7 basis points to 3.721%.
Bond yields move in the opposite direction of prices.
A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes , seen as an indicator of economic expectations, was at -63.2 basis points.
The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 5.1 basis points at 4.139%.
April 25 Tuesday 9:30AM New York / 1330 GMT
Price Current Net
Yield % Change
(bps)
Three-month bills 5.015 5.1507 0.090
Six-month bills 4.83 5.0334 -0.019
Two-year note 99-177/256 4.0416 -0.102
Three-year note 100-14/256 3.73 -0.104
Five-year note 100-138/256 3.5045 -0.101
Seven-year note 100-244/256 3.4688 -0.089
10-year note 100-128/256 3.4391 -0.076
20-year bond 101-40/256 3.7911 -0.063
30-year bond 99-28/256 3.6742 -0.055
DOLLAR SWAP SPREADS
Last (bps) Net
Change
(bps)
U.S. 2-year dollar swap 26.00 -1.25
spread
U.S. 3-year dollar swap 17.50 -1.00
spread
U.S. 5-year dollar swap 7.50 0.00
spread
U.S. 10-year dollar swap 0.00 0.50
spread
U.S. 30-year dollar swap -41.00 0.00
spread
(Reporting by David Randall
Editing by Tomasz Janowski)
