U.S. Treasury yields fell as oil prices eased, with traders awaiting this week’s inflation, producer prices and retail sales data. The 10-year benchmark slipped more than 5 basis points to 5.1937%.
01Summary
- 01The 10-year Treasury yield fell more than 5 basis points to 5.1937%, the main benchmark for mortgages, auto loans and credit card debt.
- 02The 30-year Treasury yield dropped 4 basis points to 5.5580%, while the 2-year yield fell more than 2 basis points to 4.7658%.
- 03West Texas Intermediate crude for November delivery was 1.49% lower at $92.34 a barrel at 3:50 a.m. ET.
- 04U.S. Treasury markets reopened on Tuesday after being closed on Monday for the Columbus Day holiday.
- 05September U.S. inflation data is due on Wednesday, followed by producer price index and retail sales figures on Thursday.
02Why it matters
Treasury yields help shape borrowing costs for households and businesses, so moves in the 10-year note can feed into mortgage and loan rates. The upcoming inflation data will also influence expectations for where interest rates go next.
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