Autos · Euroglobal New
U.S. Treasury yields increased on Tuesday, as renewed tensions in the Middle East drove global government borrowing costs higher. The 10-year Treasury note yield — the main benchmark for mortgages, auto loans and credit card debt — rose more than 2 basis points to 4.7840%.
The longer-dated 30-year Treasury note yield, which tends to track geopolitical events, was also up more than 2 basis points at 5.2740%. The yield on the 2-year Treasury note , which typically moves in line with short-term Federal Reserve interest rate decisions, was up more than 1 basis point at 4.3604%. One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.
Borrowing costs rose as traders continue to weigh developments in the Middle East , after U.S. forces earlier launched fresh strikes against Iran, and a tanker was struck by unknown projectiles off the coast of Oman in the Strait of Hormuz. The escalation pushed oil prices higher. West Texas Intermediate futures were last seen 1.49% higher at $87.04 per barrel, while Brent crude — the international oil price benchmark — advanced 1.34% to $91.71.
Investors are also monitoring the G20 finance ministers' meeting in Asheville, North Carolina, which is set to conclude later Tuesday, as well as a raft of domestic economic data, including the ISM Manufacturing PMI print and the JOLTS job openings data, with non-farm payrolls figures expected Friday.
Source: CNBC
