U.S. Treasury yields were lower on Wednesday as investors assessed the outlook for the economy after the latest economic data releases.
At 6:12 a.m. ET, the yield on the 10-year Treasury was down by over 2 basis points at 3.818%. The 2-year Treasury pulled back by over 5 basis points at 3.836%.
Yields and prices have an inverted relationship. One basis point equals 0.01%.
Investors digested the latest economic data and considered what it could mean for the state of the U.S. economy.
Manufacturing production insights published Tuesday indicated weakness in the sector, which fueled concerns about an economic slowdown in the U.S. The data comes just weeks after recession fears and questions around whether the Federal Reserve should have already started cutting interest rates enveloped markets.
Those concerns — which were sparked by a July jobs report that was weaker than expected — had, however, been eased somewhat since then through…
