Traders work on the floor of the New York Stock Exchange on Feb. 13, 2025
Danielle DeVries | CNBC
The 10-year Treasury yield fell to its lowest level since December as more signs emerged that the economy may be slowing, leading traders to bid up fixed income prices.
Benchmark 10-year Treasury yields moved down nearly 10 basis points to 4.294%, and the 2-year Treasury yield slipped more than 6 basis points to 4.098%. One basis point equals 0.01%, and yields and prices move inversely, meaning yields fall when prices rise.
The Conference Board’s latest consumer confidence survey came in at 98.3 in February, short of economists’ consensus estimate of 103.0 and down from 105.3 last month. The Philadelphia Federal Reserve said its services index tumbled to -12.9 in February, the lowest since April 2023, from 2.2 in January, while its sales/revenue index fell 15 points to -12.7, its lowest since May 2020.
“The economy is about to have…
