Treasury yields bounced back on Tuesday as investors closely monitored a reversal of the previous day’s global market sell-off.
The yield on the benchmark 10-year Treasury note traded more than 6 basis points higher at 3.844% at 7:43. ET. It comes after the yield on the 10-year Treasury note on Monday fell to its lowest level since June 2023.
The yield on the 2-year Treasury note traded over 9 basis points higher at 3.973%. Yields and prices move in opposite directions, and one basis point is equivalent to 0.01%.
Global markets appeared on track to shake off Monday’s dramatic downturn.
U.S. stocks kicked off the month sharply lower, as fresh data prompted fears of a worsening economic outlook. The weaker-than-expected data led investors to worry that the Federal Reserve may be behind the curve in cutting interest rates to fend off a recession.
However, futures pointed to a rebound in equities, with those tied to the S&P 500 up about…
