The 10-year Treasury note yield — the main benchmark for mortgages, auto loans and credit card debt — was down by more than 2 basis points at 4.6163%.
The yield on the 2-year Treasury note, which tends to react in line with short-term Federal Reserve interest rate decisions, was also more than 2 basis points lower at 4.2932%. The longer-dated 30-year Treasury yield, which is often sensitive to geopolitical events, was seen more than 1 basis point lower at 5.1104%.
One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.
Traders are also monitoring events in the Middle East, after President Donald Trump said the U.S. had held “good talks” with Iran on Monday.
The ongoing pause in hostilities has continued to push oil prices lower. West Texas Intermediate futures were 2.89% lower at $80.21 per barrel on Tuesday morning. Brent crude — the global oil price benchmark — was 3.50% lower at $85.29.
About the Author
