Yields on US Treasuries fell amid concerns about inflation and slowing economic growth on Tuesday morning.
Benchmark yield 10-year government bond It dropped to 1.6317% below the basis point at 4:30 EST.Yield 30-year government bond Below the basis point, it dropped to 2.0783%. Yield is inversely proportional to price, and one basis point is equivalent to 0.01%.
Early in the session on Monday, the 10-year rate traded high up to 1.673%, but hovered above 1.63%. The US stock market closed its last session at a record high in a strong corporate earnings report. However, concerns about the combination of rising inflation and slowing economic growth, also known as “stagflation,” continue to plague investor sentiment.
On Tuesday, the number of new homes sold in the United States in September will come out at 10 am Eastern Standard Time. Economists surveyed by Dow Jones expect home sales to increase from 740,000 in August to 760,000 in September.
The October CB Consumer Confidence Index will also be released at 10 am Eastern Standard Time.
The auction is scheduled to take place on Tuesday with a 48-day invoice of $ 40 billion and a two-year bond of $ 60 billion.
— — CNBC’s Maggie Fitzgerald contributed to this market report.
Treasury yields will drop slightly on Tuesday
Source link Treasury yields will drop slightly on Tuesday