US Treasury yields today: 10-year yield falls as oil prices drop ahead of inflation data
US Treasury yields fell as oil prices dropped, with investors awaiting US inflation data, producer prices and retail sales for clues on Fed rate decisions.
On Tuesday, US Treasury yields fell as oil prices dropped ahead of upcoming economic data. Investors were anticipating key economic reports, including the latest inflation report from the Federal Reserve. The 10-year US Treasury yield fell by more than 5 basis points to 5.1937%, while the 30-year yield also declined by 4 basis points to 5.5580%.
The 2-year yield fell by over 2 basis points to 4.7658%. Lower yields impact borrowing costs for mortgages, auto loans, and credit cards. The mixed trends in other yields included an increase in 1-month and 3-month yields, and a rise in the 6-month yield. The fall in yields was due to a drop in oil prices, as investors watched developments that could allow more Russian diesel into global energy markets.
Oil prices fell, with WTI crude oil futures for November delivery down 1.49% at $92.34 a barrel. Investors await key US economic reports on inflation, producer prices, and retail sales. These reports could influence Federal Reserve decisions on interest rates.
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