U.S. Treasury yields decline ahead of key debt auctions – CNBC
The 10-year Treasury yield was relatively unchanged on Tuesday as traders weighed the latest U.S. economic growth figures.
The benchmark 10-year Treasury yield fell less than 1 basis point to 4.169%. The yield on the 2-year Treasury note jumped more than 3 basis points to 3.534%. The 30-year bond yield traded down more than a basis point at 4.826%.
One basis point equals 0.01%. Yields and prices move inversely to one another.
The U.S. economy grew by 4.3% in the third quarter, the Commerce Department said Tuesday. That was well above a Dow Jones estimate of 3.2%. Growth was boosted by strong U.S. consumer spending.
To be sure, the data is outdated as the release was rescheduled from Oct. 30 due to the U.S. government shutdown during the fall.
“Today’s GDP report shows the economy continues to chug higher, but Main Street may feel differently. That’s as the December consumer confidence report hit its lowest level since April, as tariffs were rocking Wall Street. As we near year-end, tariffs remain top of mind for consumers, along with inflation,” said Bret Kenwell, U.S. investment analyst at eToro.
The bond markets will close early at 2 p.m. on Wednesday and will remain closed on Thursday for Christmas.
Correction: Economists polled by Dow Jones expected growth of 3.2%. A previous version misstated the estimate.
