The 10-year U.S. Treasury yield retreated on Tuesday as traders continued to assess the prospect of future rate cuts from the Federal Reserve.
The yield on the benchmark 10-year note was down about 2 basis points at 3.933%, having fallen below 4% on Thursday to hit its lowest point since July.
The yield on the 30-year Treasury bond also dropped about 3 basis points to 4.041%, while the yield on the 2-year note fell more than 1 basis point at 4.444%.
Yields move inversely to prices. One basis point equals 0.01%.
Treasury yields have come off their highs after the Fed last week indicated three likely interest rate cuts in 2024. The unexpectedly dovish pivot prompted a steep fall in the 10-year yield as investors increased bets on a quicker loosening of monetary policy.
Source link: https://www.cnbc.com/2023/12/19/treasury-yields-down-slightly-as-recent-trend-continues.html