WASHINGTON (dpa-AFX) - Following the pullback seen over the two previous sessions, treasuries regained some ground during trading on Tuesday.
Bond prices moved steadily higher throughout the morning and remained firmly positive in afternoon trading. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.5 basis points to 4.127 percent.
The rebound by treasuries came amid lingering concerns about the economic impact of the ongoing U.S. government shutdown.
Lawmakers in Washington continue to struggle to pass a temporary funding bill due in part to Democrats' demands that the legislation include an extension of enhanced Obamacare tax credits.
The shutdown has also led to the indefinite delay of key U.S. economic data, including the Labor Department's closely watched monthly jobs report that was due to be released last Friday.
The lack of data has led to some uncertainty about the outlook for interest rates, although the Federal Reserve is still widely expected to cut rates by another quarter point later this month.
Remarks by several Fed officials, including Fed Chair Jerome Powell, this week along with the release of the minutes of the central bank's latest meeting may shed additional light on the outlook for rates.
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