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US Treasury yields slide from 2002 peak as oil stabilizes
The drop left 10-year yields at 5.28% and two-year yields near 4.8% after the government auction of three-year notes cleared slightly below the pre-auction level.
US Treasuries yields fell from their highest levels since 2002 as oil prices stabilized, according to LiveMint Markets, citing a pause in the broader bond selloff tied to inflation fears from the US-Iran war and expectations of more aggressive Federal Reserve tightening.
In remarks in Pennsylvania on Monday night, Treasury Secretary Scott Bessent said the government would start “bending” the borrowing curve, arguing growth and spending restraints would quickly alter the path of US government borrowing.
The move reduced 10-year note yields by three basis points to 5.28%, while two-year yields fell by about two basis points to around 4.8%.
LiveMint Markets also pointed to early Tuesday weakness in crude prices tied to signs more supplies were moving through the Strait of Hormuz, and noted yields held steady after a $58 billion auction of three-year notes was awarded at 4.932%, slightly below the 4.934% yield seen before the bidding deadline.
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