Treasury yields continued their recovery Wednesday as global markets reverse course from a dramatic equity sell-off to start the week.
The benchmark 10-year Treasury yield was more than 5 basis points higher at 3.942% at 12:10 m. ET. The yield on the 2-year note also climbed nearly 5 basis points to 4.028%.
Yields and prices move in opposite directions, and one basis point is equivalent to 0.01%
The yield on the 10-year Treasury bounced back to the level it was at prior to the weak jobs report on Friday that spiked investors’ concerns about a U.S. economic downturn. Combined with the knock-on impact of a hawkish pivot by the Bank of Japan, safe haven assets including Treasurys were bolstered, sending the 10-year yield to its lowest level since June 2023.
10-year Treasury yield over the last five days
Stocks have since regained some positive momentum, with Asia-Pacific and European markets trading higher…
